Bursa Malaysia Stock Watch
Mudajaya (BUY) - Powering the future
kltrader
Publish date: Mon, 05 Mar 2012, 10:07 PM
kltrader
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Mudajaya (BUY)
Powering the future
- We returned on a positive note following Mudajaya's investorspresentation last Friday whereby Mr. Anto, Group MD & CEO, and other seniormanagement personnel were present.
- Progress for the India IPP has been substantial, with ~US$570m worth ofEP works outstanding equivalent to 40% completion is on track for commercialoperations by year end.
- Suruhanjaya Tenaga is targeting for additional 4,500MW gas-fired and1,000MW coal-fired capacity to be awarded by 2016. This will translate to~RM3bn power-related civil works up for grabs, an area where Mudajaya has anedge over its competitors. Besides power projects, Mudajaya has also bid for~RM2.8bn worth of jobs ranging from MRT/LRT packages to KLIA2 Aerobridge.
- Maintain BUY with TP of RM4.61 based on SOPvaluation.
Source: HLIB Research 5 March 2012
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
jtpc2006
Mudajya TP 4.61 sounds reasonable with all the major projects which are already in progress, and with more to come.
2012-03-06 09:38