Bursa Malaysia Stock Watch
Eversendai - Steel Class Of Its Own
kltrader
Publish date: Thu, 05 Apr 2012, 09:53 AM
kltrader
0 20,246
This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
Eversendai (BUY; NEW)
Steel Class Of Its Own
- Eversendai has crafted a niche as a specialist in the steel structureconstruction works which has several advantages over traditional RCconstruction method. The company has four strategically located fabricationfacilities with an annual capacity of 119,000MT pa which provides economies ofscales for a competitive quote during the tendering stage.
- Moreover, Eversendai is involved in the early design and consultancystages of a proposal down to the fabrication and construction phase, henceproviding the company with a technical advantage over its other competitors todeliver the project on time.
- The company has played an important role in many international landmarkprojects and have also fostered close working relationships with reputable andinternationally established contractors.
- Eversendai has an outstanding order book of ~RM1.37bn, translating to~1.3x FY11's revenue and ~1.06x order book-to-market cap ratio. The company istendering for ~RM12bn worth of contracts and based on its historically hit rateof 20%, the company has a good chance of securing an additional RM2.4bn worthof new projects.
- We forecast a modest FY12-FY14 earnings CAGR of 4% and order bookreplenishment rate of RM1bn-1.5bn. Initiate with a BUY call with TP of RM2.00as we favour Eversendai's niche as a steel specialist contractor and decentorder book size, but trading at undemanding valuation.
Source: HLIB Research - 5 April 2012
Related Stocks
| Chart | Stock Name | Last | Change | Volume |
|---|
More articles on Bursa Malaysia Stock Watch
Tambun Indah - The 2nd Penang Bridge To Narrow Property Price Gap
Created by kltrader | Oct 11, 2012
Plantation ' Share Prices Not Reflecting CPO Price Movement ' Is A Correction Coming? (Neutral)
Created by kltrader | Oct 11, 2012
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
Apps
Top Articles
1
The Alpha Trader
2
AnimatedMotion
3
THE INVESTMENT APPROACH OF CALVIN TAN
4
Good Articles to Share
5
Good Articles to Share
People are turning to these alternative routes amid strong desire for money: CEO
6
Good Articles to Share
7
Good Articles to Share
Ukraine says Russian shelling targets civilians in Kharkiv region
8
Good Articles to Share
F1 driver Max Verstappen on the departure of his design chief #sports #shorts
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
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....
