Bursa Malaysia Stock Watch
Eversendai Corporation: Buy
kltrader
Publish date: Tue, 22 Nov 2011, 02:57 PM
kltrader
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Bags RM132m Manjung mechanical job Shariah-compliant
Within expectations. Eversendai has clinched the mechanical erection work for the Manjung power plant, worth RM132m. The company has consistently secured new jobs since its listing and is on track to meet our job wins expectation of RM1.2b for 2011 (YTD wins: RM973m). We continue to like Eversendai for its bright job-flow prospects, coming from key pump-priming markets, where projects are of populist demand-driven and have lower timing risk. The stock trades at a low 9x 2012 PER. Maintain Buy and TP of RM2.17 (12x 2012 PER).
Maybank research (22 November 2011)
Click here for full report ''
Within expectations. Eversendai has clinched the mechanical erection work for the Manjung power plant, worth RM132m. The company has consistently secured new jobs since its listing and is on track to meet our job wins expectation of RM1.2b for 2011 (YTD wins: RM973m). We continue to like Eversendai for its bright job-flow prospects, coming from key pump-priming markets, where projects are of populist demand-driven and have lower timing risk. The stock trades at a low 9x 2012 PER. Maintain Buy and TP of RM2.17 (12x 2012 PER).
Maybank research (22 November 2011)
Click here for full report ''
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