Pre-qualification activity is at a record high — Government and GLC tenders are the biggest pull, while private sector demand cools.
PQ submissions stand at 41 YTD vs 32 same period last year. Win rate on Government and GLC packages is 34%, well ahead of the 18% on private sector tenders. AI scraping of MyProcurement and TNB e-tender portals shows RM 9.1B of addressable pipeline relevant to our segments over the next 12 months.
Reallocating BD capacity from private commercial to renewable / hybrid power EPCC packages should lift expected win value by RM 280M over the next two quarters while protecting share against newer Bumiputera EPCC entrants.