Bursa Malaysia Stock Watch
WCT - HDBSVR: Maintain Buy on WCT, SOP-derived RM3.60 TP
kltrader
Publish date: Mon, 11 Oct 2010, 10:12 PM
kltrader
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Stock Name: WCT
Company Name: WCT BHD
Research House: HWANGDBS
KUALA LUMPUR: Hwang DBS Vickers Research is maintaining its Buy on WCT and a sum-of-parts derived target price of RM3.60.
WCT had on Friday, Oct 9 was awarded a RM486m build-operate-transfer concession by Malaysia Airports is for an integrated complex at the new LCCT for 25 years starting Oct 7, with an option for a 10-year extension.
'With this win, our new order win assumption for FY10 is RM1.3bn, while its orderbook is 30% higher at RM2.1bn. We expect at least another sizeable contract win in Qatar and other local jobs by end-2010 for it to meet our forecast,' HDBSVR said in its research report on Monday.
'The Qatar job is for a government office building and at advanced stage. The Gamuda-WCT JV is also one of five contractors short-listed for the RM1bn Durkhan Highway. Meanwhile, we understand WCT is finalising land deals in the Klang Valley,' it said.
''
Company Name: WCT BHD
Research House: HWANGDBS
KUALA LUMPUR: Hwang DBS Vickers Research is maintaining its Buy on WCT and a sum-of-parts derived target price of RM3.60.
WCT had on Friday, Oct 9 was awarded a RM486m build-operate-transfer concession by Malaysia Airports is for an integrated complex at the new LCCT for 25 years starting Oct 7, with an option for a 10-year extension.
'With this win, our new order win assumption for FY10 is RM1.3bn, while its orderbook is 30% higher at RM2.1bn. We expect at least another sizeable contract win in Qatar and other local jobs by end-2010 for it to meet our forecast,' HDBSVR said in its research report on Monday.
'The Qatar job is for a government office building and at advanced stage. The Gamuda-WCT JV is also one of five contractors short-listed for the RM1bn Durkhan Highway. Meanwhile, we understand WCT is finalising land deals in the Klang Valley,' it said.
''
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