Mah Sing hits all-time high after partnership announcement for data centre in Bangi

From The Edge Malaysia: 2024-06-07 00:07:41

Mah Sing Group Bhd hits all-time high at RM1.90 as shares surge post data centre JV proposal in Bangi, Selangor. 29.20 million shares traded, above 20-day average of 24.07 million shares. 11 out of 12 analysts recommend ‘buy’, with average target price at RM1.89. Rakuten Trade sees sustainable bullish momentum for Mah Sing.

Artificial intelligence (AI) wave drives tech stocks, unlike dot-com bubble. Mah Sing’s JV with Bridge Data Centres Malaysia V for 100MW data centre in Bangi indicates tech sector potential growth. BDC to secure data centre clients, with shareholding structure of JV still pending finalisation. Tech stocks seen as laggard among other sectors.

Mah Sing Group Bhd saw an increase in share price after announcing partnership with BDC for data centre in Bangi. AI-driven tech counters predicted to ride bullish wave for next two years as compared to other sectors like construction. Bubble-free AI era expected to drive profitable growth for tech companies unlike dot-com era.



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