KUALA LUMPUR (March 4): CIMB IB Research has maintained its “Add” rating on Taliworks Corp Bhd at 86 sen with a lower target price of RM1.08 (from RM1.10) and said Taliworks’ FY18 results were above expectations, bumped up by reversal of provision amounting to RM65.3 million relating to Splash.

In a note March 1, the research house said the water division’s (Selangor and Langkawi) EBIT surged 132% year-on-year, mitigating the weak performance of other divisions and associate losses.

“SSP1 settlement deal in 2Q19 could catalyse share price. Maintain Add,” it said.