PETALING JAYA: Rakuten Trade initiates coverage on United Asiapac Energy Bhd (Unipac) with a “buy” recommendation and a fair value of 50 sen.
It cited the oil and gas services provider’s expansion plans, improving margins and strong credentials with Petroliam Nasional Bhd (PETRONAS) as key growth drivers.
“We expect Unipac to register core profit after tax and minority interest of RM13.5mil and RM18.2mil for the financial years ending May 2026 (FY26) and FY27,” the research house said.
It valued the stock at 15 times FY27 forecast earnings per share, in line with the FBM Small Cap average.
...