Engtex - Malaysian pipe supplier holding at support line

12 Kas

Engtex Berhad, a Malaysian pipe supplier headquartered in Sungai Buloh, stands to benefit from the recent surge in pipe replacement projects across the country. The company may see higher sales volumes from the Rasau water supply scheme, Langat 2 water treatment plant, and the Perak-Penang water transfer scheme, which all use larger-diameter pipes.

The share price is currently holding at the support line, with further confirmation required.