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The utilities engineering services firm is among the few contractors qualified for high-voltage works, positioning it as a direct proxy to national grid expansion and the Asean Power Grid, said Apex Securities in initiating coverage on Cheeding with a ‘buy’ call.
“Licensed up to the highest voltage class in Malaysia, Cheeding holds a strong competitive moat and margin profile,” the house said.
KUALA LUMPUR (Dec 10): Cheeding Holdings Bhd (KL:CHEEDING) said on Wednesday it has secured a RM13.5 million contract from Tenaga Nasional Bhd (KL:TENAGA) for extension works at the Genting Sempah substation. https://theedgemalaysia.com/node/785538