Journey to Wealth
Hock Seng Lee - RM39.5m Job Drops In
THE BUZZ
Hock Seng Lee (HSL) announced that it has signed a subcontract agreement with PN Construction SB for the construction of Senibong Secondary School in Sarawak for a total sum of RM39.5m.
OUR TAKE
The project details. According to its Bursa announcement, HSL's scope of works includes earthworks, piling works, building works, mechanical and electrical services. Implementation is expected to be spread over 24 months and will be completed by 3Q14.
Within expectations. With this contract in the bag, HSL has secured a total of RM512m in new projects YTD. We deem the latest deal as within our expectations, with our orderbook replenishment forecast unchanged at RM600m p.a. for FY12 to FY14. We estimate that HSL's current outstanding orderbook totals approximately RM1.2bn.
BUY. No changes to our forecasts at this juncture. Maintain BUY on HSL, with our FV kept at RM2.22, based on an unchanged 12x FY13 PER. We continue to like HSL for its niche in marine engineering, established execution track record, strong presence in East Malaysia, as well as its sturdy books and target net cash per share of RM0.35 by end-FY12.
Source: OSK
Related Stocks
| Chart | Stock Name | Last | Change | Volume |
|---|
Market Buzz
More articles on Journey to Wealth
Ekovest: No plan to launch another offer for Iskandar Waterfront City
Created by kiasutrader | Mar 29, 2018
Kenanga Research - On our Portfolio - Parliament dissolution around the corner?
Created by kiasutrader | Mar 25, 2013
Plantation Sector - Proposed accounting standard scrapped OVERWEIGHT
Created by kiasutrader | Mar 25, 2013
Pavilion Reit - Limited upside, earnings upside have been priced in HOLD
Created by kiasutrader | Mar 25, 2013
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
Introducing MY's First IPO Fund for Sophisticated Investors!
New Update. Discover investment communities that resonate with your ideas
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
Apps
Top Articles
2
3
BFM Podcast
4
5
BFM Podcast
6
Axcapital's investment blog
KAB - Executing its way to a record quarter. Could more Petronas contracts be coming?
7
Koon Yew Yin's Blog
CPO price is rising rapidly as shown by chart below - Koon Yew Yin
8
Mercury Securities Research
#
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....
