Bursa Malaysia Stock Watch

Yinson Holdings: Maintain Buy - Steady On Course; Excitement Ahead!

kltrader
Publish date: Wed, 16 May 2012, 11:07 AM
kltrader
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Expecting bigger projects. Our two-day site visit to Yinson's operations in Vietnam uncovered promising prospects. We believe Yinson is gunning for a second floater job within the next 12 months, which would equate to a stellar win rate of one project per year. Developments are smooth at its associate Phu My Port, which could see potential earnings contribution by year end. We reiterate our BUY call and MYR2.20 SOP-based TP which implies 9x FY1/14 earnings.

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Source: Maybank Research - 16 May 2012
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