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ECONBHD - KEEP PILING FOR BETTER GROWTH & PROSPECT AHEAD!!!
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DATE : 6th October 2017
ECONBHD - KEEP PILING FOR BETTER GROWTH & PROSPECT AHEAD!!!
BACKGROUND :Econpile Holdings Bhd are primarily involved in the provision of piling and foundation services. Its business is built on the foundation of our main core business, namely piling solutions and foundation services.
Stock : ECONBHD (RM3.12)
Target Price : RM3.80 (1-3 month)
Warrant : ECONBHD-CF & CA
Today Kim hint and mentioned morning session this stock. Kim also mentioned TP RM3.15 today. Price high has been touched in short period RM3.14 (refer to screenshot below Kim's stockwatch Channel). Share price closed in the evening stood a RM3.12. I think it enough to describe what's going on next. - Author
What's good?
1. ECONBHD : Recall that Econpile secured RM627 million new jobs in FY16.
2. ECONBHD : Good proxy for the booming piling and foundation segment underpinned by current mega infrastructure projects such as the MRT2, Pan Borneo Highway, HSR etc.
3. ECONBHD posted a record net profit for the third financial quarter ended March 31, 2017 (3QFY17), on higher billings recorded coupled with increased overall project order book secured.
4. ECONBHD : Net profit rose 23.6% to RM22.11 million or 4.13 sen a share from RM17.89 million or 3.34 cts a share a year ago, mainly derived from the piling and foundation services business segment.
5. ECONBHD : Quarterly revenue grew 32.9% to RM162.28 million in 3QFY17 from RM122.07 million in 3QFY16.
6. ECONBHD : Declared a second interim dividend of 3 sen per share for the financial year ending June 30, 2017 (FY17), payable on June 22. This brings total dividends to 4.5 sen per share amounting to RM24.1 million for the financial year.
7. ECONBHD : Has bagged six contracts worth RM1.2 billion for piling and substructure works for property development and infrastructure projects such as the mixed development of Pusat Bandar Damansara and the Klang Valley Mass Rapid Transit.
8. ECONBHD : Order book stands at RM1.4 billion and is set to be recognised over the next two years.
9. ECONBHD : The company is confident that its FY18 performance could be "sustainable" as it expects to see continued growth from its piling and foundation services in the infrastructure segment.
10. ECONBHD : Hits fresh 52-week high as FY17 net profit rises 20%
11. ECONBHD : Current orderbook stands at RM1.2 billion, which is estimated to be recognised over the next two years.
ADDITIONAL :
- MRCB project at KL RM 48mil, duration 18 months
- Pavillion Damansara Phase 2 pilling project RM 18mil, duration 27 weeks ( 6 months)
- Jalan Conlay sub structure work RM 48.5mil ( awarded on May 19th 2017 duration 15 months)
- MRT 2 diaphragm wall for the KVMRT project ( Awarded March 29th 2017 , RM 93mil, 450 Days)
- Damansara Pavillion project ( Awarded Feb 22nd 2017, RM 570mil, 28 months )
- SUKE Project ( Awarded Dec 28th 2016, RM 158.3mil, 17months)
- MRT 2 Viaduct Project ( Awarded Oct 21st 2016, RM 43.5mil, 24 months)
- Maju Project ( Awarded Oct 4th 2016, RM 280mil, 15months )
- 99, Jalan Ampang ( Awarded June 6th 2016, RM 208mil, 26 months)
- Prestij Permai Sg Buloh Project ( Awarded Apr 8th 2016, RM 53.5mil, 20 months)
- EcoMeridian Project, Penang ( Awarded March 31st 2016, RM 51.63mil, 14.5 months)
- EKVE from Ahmad Zaki ( Awarded March 3rd 2016, RM 76.9mil, 24 months)
- Mixed commercial lot from Ahmad Zaki ( Awarded Dec 31st 2015, RM 20.3mil, 8 months ---> COMPLETED JULY 2016)
- Nusmetro Persiaran Dutamas ( Awarded 24th Nov 2015, RM 95.5mil, 19 months ---> DUE TO BE COMPLETED JUNE 2017)
- WZR Properties ( Awarded on 1st Nov 2015, RM 120.5mil, 18 months, ---> TO BE COMPLETED MAY 2017)
- AZRB Jalan Sultan Ismail ( Awarded 6th June 2015, RM 49.9 mil.....COMPLETED SEPT 2016)
-Jalan Conlay ( Awarded Jan 2015, RM 128.9 Mil....COMPLETED DEC 2016)
- and a few more smaller projects worth between RM 23mil to RM 128mil , which were awarded in between June 2014 - Dec 2014th, all of them which already being completed by now.
* Source by Blogger Optimus9199 Thank you.
What's going on today?
Kaboom!!!
Regards,
Kim Stockwatch
Do join us on a good gain at these sites
Telegram : https://www.telegram.me/kimstock (Real live time trading)
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