Highlights

南洋行家论股

Author: Tan KW   |   Latest post: Wed, 20 Nov 2019, 9:32 PM

 

华商控股 仍有竞争优势

Author:   |    Publish date:


目标价:65仙最新进展:

与管理层会面后,华商控股(WASEONG,5142 ,主板工业股)透露,凭借竞争优势,在澳洲竞标项目的展望良好。

自上财年第三季,该公司竞标的项目维持60亿令吉,主要来自大马、澳洲、欧洲和非洲的油气业务;此外,手中订单从第三季的16亿令吉,跌至末季的11亿令吉。

NS2项目上财年贡献5亿欧元(约22.91亿令吉)营业额,剩余1亿欧元(约4.58亿令吉)会在今年首9月结算;基于其他数项指标,公司正争取项目额外补贴。

行家建议:

尽管管理层没有公布补贴数额,我们预料该金额不会超过合约总值1%,即600万欧元(约2700万令吉),料于今年末季结算。 

由于NS2项目的贡献已大量进账,预估本财年第三季盈利会较疲弱,若末季获得补贴,盈利有望恢复。

我们认为身为全球两大管道涂层公司之一的华商控股,面对主要竞争对手Bredero Shaw时,仍有竞争优势,但我们不认为6个月内会获得大型合约,需等到年杪。 

预计今明财年分别新增5亿和8亿令吉合约,将补贴纳入考量后,我们维持财测。

维持“卖出”评级和65仙目标价,相等于本财年本益比8倍。 

http://www.enanyang.my/news/20190406/华商控股br-仍有竞争优势/

Share this
Labels: WASEONG

Related Stocks

Chart Stock Name Last Change Volume 
WASEONG 1.27 -0.02 (1.55%) 2,096,300 

  Be the first to like this.
 


 

426  261  559  762 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 ALAM 0.13+0.03 
 FINTEC 0.080.00 
 ARMADA 0.545+0.015 
 TIGER 0.09+0.015 
 EKOVEST 0.815+0.035 
 SAPNRG 0.2950.00 
 DGB 0.165+0.005 
 TRIVE 0.010.00 
 HSI-H8F 0.29+0.04 
 KNM 0.41-0.015 

TOP ARTICLES

1. Formosa Prosonic Industries - Divesting the Last Australian Project - Solid Net Cash, Strong DY and Attractive Valuations HLBank Research Highlights
2. (Icon) Why You Should Learn To Invest In Overseas Stocks Icon8888 Gossips About Stocks
3. Dayang: Points to ponder & can you advise me? Koon Yew Yin Koon Yew Yin's Blog
4. Challenging Times for Retirees with Ultra-Low Interest Rates. BFM Podcast
5. Jaks Resources Bhd: A relook into Jaks Resources from Profitability, Volume Spread Analysis and what’s Insiders Report are telling they are doing Now? TradeVSA - Case Study
6. [12Invest] 我要投资 - 浅谈以Reverse Takeover 上市的Widad Group(0162) [12Invest] - 我要投资
7. Rohas Tecnic - More to Come HLBank Research Highlights
8. M+ Online Technical Focus - 20 Nov 2019 M+ Online Research Articles
Partners & Brokers