Bursa Malaysia Stock Watch

WCT: Maintain Buy - Delivery on Track

kltrader
Publish date: Wed, 23 May 2012, 09:12 AM
kltrader
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No surprises. 1Q12 net profit of MYR40m (+7% YoY, -17% QoQ) is 23% of our and 22% of consensus' full-year forecast. There is no change to our forecasts for a 6% growth in net profit this year, although there is a possibility that 2012 profits may be stronger due to revaluation gains on Paradigm. We reiterate our BUY call on the stock with an unchanged MYR3.15 SOP-based target price (15x 2012 earnings plus a 20sen increment from the KLIA2 IC concession).

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Source: Maybank Research - 23 May 2012
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