Bursa Malaysia Stock Watch
Mudajaya (BUY) - Power ending for FY11
kltrader
Publish date: Fri, 24 Feb 2012, 10:37 PM
kltrader
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FY11 PATAMI grew by7% to RM231m (48.4 sen/share), missing ours and streets' estimates slightly by 2.6% and 3.3% respectively.
Mudajaya's FY11 earnings were largely derived from the Indian IPP project as indicated by the accelerating MI charges over the past quarters. We gather that the Indian project is 35% complete.
Additionally, Mudajaya has officially clinched the civil and structural works portion for the1,000MW Tanjung Bin power plant extension project worth RM1bn. Hence, Mudajaya has an outstanding order book of ~RM3.7bn.
FY12-13earnings reduced by 8% and 1% respectively to better reflect the timing of profit recognition. Maintain BUY call with a TP of RM4.61.
Source: HLB Research 24 Feb 2012
Mudajaya's FY11 earnings were largely derived from the Indian IPP project as indicated by the accelerating MI charges over the past quarters. We gather that the Indian project is 35% complete.
Additionally, Mudajaya has officially clinched the civil and structural works portion for the1,000MW Tanjung Bin power plant extension project worth RM1bn. Hence, Mudajaya has an outstanding order book of ~RM3.7bn.
FY12-13earnings reduced by 8% and 1% respectively to better reflect the timing of profit recognition. Maintain BUY call with a TP of RM4.61.
Source: HLB Research 24 Feb 2012
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j harcharanjit a/l jalaur singh dhillon
wow wow very good mudajaya keep up the good work
2012-02-25 10:52