Bursa Malaysia Stock Watch

Dialog Group: Maintain Buy - Bags MYR17m Snamprogetti Job

kltrader
Publish date: Thu, 14 Jun 2012, 09:44 AM
kltrader
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Maintain BUY; TP unchanged at MYR3.05. That Dialog has bagged its maiden contract from Snamprogetti (MYR17m) for the supply base operations in Jubail is positive. Impact to order backlog and earnings is negligible but we expect job win momentum to build up as it grows its expertise in the Middle East. Nevertheless, its long-term tank terminal expansion program in Johor will be its trump card - for earnings, cashflows and dividends. Our target price is based on sum-of-parts.

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Source: Maybank Research - 14 June 2012
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