Wasco stock reports weaker first half as targets fall

Wasco stock (ISIN MYL5142OO004) stood at MYR 0.73 at the September 25, 2026 close in Kuala Lumpur, unchanged from the previous close. The latest catalyst is a weaker first-half earnings picture, with project delays weighing on the oil and gas engineering business.

First-half profit falls 44 percent

Wasco reported 1H FY2026 core net profit of MYR 25.1 million. According to The Star on August 31, 2026, core profit dropped 44 percent year over year as revenue declined 34 percent, reflecting slower work orders and weaker industrial boiler activity in the bioenergy segment.

The sequential comparison was better. The same The Star report said core profit recovered 26 percent quarter over quarter, supported by 8 percent revenue growth and improving oil and gas margins.

Analysts lower targets

Kenanga Research reduced its sum-of-parts target to MYR 1.02 from MYR 1.32 while retaining an outperform recommendation, according to The Star on August 31, 2026. The 22.73 percent reduction in the target reflects the expected persistence of West Asia disruptions into the second half.

RHB Research also maintained a buy recommendation while lowering its target to MYR 1.15 from MYR 1.37, as reported by The Edge Malaysia on September 13, 2026. Its review cited 1H FY2026 core earnings of MYR 23.8 million and weaker project execution.

Next results date is November 24

Investing.com lists November 24, 2026 as Wasco's next earnings date. The company says its business spans energy services, bioenergy services and related equipment, leaving project execution and industrial demand as the key operating variables for the next report.

Stock remains below yearly high

Wasco stock closed at MYR 0.73 on the Kuala Lumpur Stock Exchange on September 25, 2026. The 52-week range was MYR 0.68 to MYR 1.17, market capitalization was MYR 565.3 million, and volume was 547,300 shares.

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