(EKO MK/BUY/RM1.17/Target: RM1.55)

The recent share price retracement provides a buying opportunity given the strong fundamentals of the company which includes: a) a gigantic unbilled orderbook of RM13b (14x cover), b) expected signing of DUKE2A concession agreement in 4Q17, and c) potential listing of the DUKE1/2 Highways in 2018. Aside from that, the recent launch of the KL River City by the federal territories minister could enhance value creation in the near term. Maintain BUY. Target price: RM1.55.

Source: UOB Kay Hian Research - 19 Jul 2017