Bursa Malaysia Stock Watch

WCT: Maintain Buy - Clinches Second Contract from Vale

kltrader
Publish date: Fri, 08 Jun 2012, 09:30 AM
kltrader
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Maintain Buy. WCT's second win from Vale has lifted its outstanding construction order book to MYR2.48b (+3%). This is positive for earnings visibility, but we maintain our forecasts which have imputed job win expectations. WCT remains a Buy 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 - 8 June 2012
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