Bursa Malaysia Stock Watch

WCT: Maintain Buy - Sizeable job win, finally

kltrader
Publish date: Thu, 09 Feb 2012, 09:02 AM
kltrader
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Good start for the year. A RM300.5m job win has lifted WCT's order book by 11% to RM2.97b, we estimate. This provides some comfort on near-term earnings visibility after very small job wins in the whole of 2011. We maintain our earnings forecasts having imputed job win assumptions for 2012. No change to our sum-of-parts target price pegged to 13x 2012 earnings plus 20sen value increment from KLIA2 retail concession. The stock remains a Buy.


Maybank Research 9 Feb 2012

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