ECONBHD - ANOTHER GEMS!!! STEADY GROWTH STOCK!!! - (PART II)

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ECONBHD - ANOTHER GEMS!!! STEADY GROWTH STOCK!!! - (PART II)

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Publish date: Sat, 21 Oct 2017, 02:39 AM

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DATE : 21th October 2017

Stock : ECONBHD (RM3.13)

Target Price : RM3.30 (immediate) / RM3.80 (mid-term)

Warrant : ECONBHD-CF (0.15cts) - TP (Jackpot 0.30++ cts)

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THE PROFILES

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Founded by Group Managing Director Mr The Cheng Eng in 1987, Econpile is a piling and foundation specialist in Malaysia providing piling solutions and foundation works, which includes earth retaining systems, earthworks, substructure and basement construction works. Econpile has a full range of piling (bored piling, driven piles and jack-in piles) and foundation works. Econpile serves the property development and infrastructure sectors, having been involved in the construction of bridges, elevated highways, electrified-double tracking projects and power plants. To date, Econpile has successfully undertaken numerous piling and foundation projects nationwide, including the Klang Valley, Penang, Johor, Pahang, Sabah and Sarawak. Econpile holds a Grade 7 License from the Construction Industry Development Board of Malaysia, which allows the Group to tender for projects of unlimited values in the categories of building, and infrastructure works.

Board Of Directors

Independent Non-Executive Chairman	:	Krishnan A/L CK Menon
Group Managing Director	:	The Cheng Eng
Executive Director /Group Chief Executive Director	:	Raymond Pang
Executive Director	:	The Kun Ann
Independent Non-Executive Director	:	Dato' Rosli Bin Mohamed Nor
Independent Non-Executive Director	:	Ong Poay Wah @ Chan Poay Wah

Scope Of Services

Foundation and Geotechnical Works
- Cast-in-situ bored piles
- Driven and jack-in piles
- Micropile
- Earth retaining system including contiguous bored pile wall, secant pile wall, soldier pile wall, diaphragm wall, steel/concrete sheet pile wall
- Lateral support system including ground anchors and steel strutting
- Slope protection and stabilization, ground improvement works
Civil Engineering Works
- Earthwork and basement excavation
- Infrastructure
Structure Works
- Pile cap and basement slabs
- Top-down construction
- Temporary steel platform and staging
- Bridges
Design and build packages
- Piling, retaining system and structural works

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THE KEYNOTES

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ECONBHD - (OCT 2017) - They are keeping their forecasts which assume Econpile will secure RM600 million worth of new jobs annually in FY18 to FY20. Recall that FY17 was a bumper year for Econpile with total job wins of RM1.19 billion, compared with RM662 million in FY16. They continue to like Econpile for its strong earnings visibility backed by bright prospects for the piling/foundation segment, coupled with its sizeable order backlog which will keep it busy for the next 12 to 24 months.

ECONBHD - (OCT 2017) - Has bagged a RM48 million contract from Malaysian Resources Corp Bhd (MRCB) for its 9 Seputeh mixed development project at Old Klang Road. The contract entails piling and basement works for three residential blocks, a commercial area, and a two-storey basement car park, and represents the group's first job to be done for MRCB

ECONBHD - (SEP 2017) - Has secured an RM18 million contract for the Pavilion Damansara Heights Phase 2 mixed development project. The group said its wholly-owned unit Econpile (M) Sdn Bhd was awarded the contract to undertake contiguous bored pile works by Jendela Mayang Sdn Bhd. The contract is for 27 weeks and expected to be completed in April 2018. Econpile said the contract is expected to contribute positively to its earnings for the financial year ending June 30, 2018.

ECONBHD - (SEP 2017) - Has proposed a share split involving one existing share into two shares to enhance its marketability and trading liquidity. Econpile said its share capital as at Aug 30 is RM107 million comprising 535 million shares. Upon completion of the proposed share split, the issued share capital will grow to 1.07 billion shares.

ECONBHD - (MAY 2017) - 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. Net profit rose 23.6% to RM22.11 million or 4.13 sen a share from RM17.89 million or 3.34 sen a share a year ago, mainly derived from the piling and foundation services business segment. Quarterly revenue grew 32.9% to RM162.28 million in 3QFY17 from RM122.07 million in 3QFY16. The also group 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.

ECONBHD - (MAY 2017) - Has bagged a RM48.5 million contract for piling, basement and substructure works in the first phase of a mixed development from Pembinaan Kery Sdn Bhd. This new contract win cements their competitive advantage in undertaking works for high-rise buildings within mixed-development projects, which enable them to continue increasing the market share despite the challenging property sector. The contract will boost Econpile's order book to RM1.4 billion, with earnings visibility over the next two to three years.

ECONBHD - (MAR 2017) - Has been awarded a RM92.5 million subcontract to build the diaphragm wall for the Kampung Baru North Underground Station for Sungai Buloh-Serdang-Putrajaya line of the Klang Valley Mass Rapid Transit 2 (KVMRT2). The construction and completion of the diaphragm wall is part of the works for the underground works package, encompassing the design, construction and completion of tunnels, stations and associated structures from Jalan Ipoh North Escape Shaft to Desa Waterpark South Portal, under KVMRT2. The contract was awarded by Mujur Minat Sdn Bhd.

ECONBHD - (MAR 2017) - Has disposed of a piece of freehold land for RM5 million to streamline its subsidiaries’ principal activities and unlock the value of the property through future development. The land sale by its wholly-owned unit to another of its subsidiaries, Tropical Broadway Sdn Bhd, would see its value unlocked through development by the latter.

ECONBHD - (FEB 2017) - Has clinched a RM570.4mil deal from Malton Bhd’s unit Domain Resources Sdn Bhd to carry out foundation and basement works for a mixed development project in Pusat Bandar Damansara, Kuala Lumpur. The development, whose name is not mentioned in the announcement but which is believed to be Pavilion Damansara Heights, also includes a one-storey lower ground level and eight-storey basement. It was reported that Pavilion Damansara Heights, with a RM7bil gross development value, was expected to be completed by 2021. Canada Pension Plan Investment Board had agreed to invest RM485mil for a 49% interest in the joint venture with the Pavilion group to develop the project, its first direct real estate investment in the region.

ECONBHD - (DEC 2016) - Econpile Holdings Bhd, along with its joint venture partner China Communications Construction Co (M) Sdn Bhd (CCCC), has won a RM389.07 million contract to undertake foundation, substructures and other ancillary works for Package SUKE-CA3 of the Sungai Besi-Ulu Kelang Elevated Expressway (SUKE) project. The contract is the main stream business of EMSB and is expected to contribute positively to the revenue and earnings of Econpile for the financial year ending June 30, 2017.

ECONBHD - (DEC 2016) - Piling and foundation specialist Econpile Holdings Bhd's net profit rose 13.5% to RM16.45 million or 3.07 sen a share in the first quarter ended Sept 30, 2016 (1QFY17) from RM14.5 million or 2.71 sen a share a year ago, mainly driven by contribution from piling and foundation works for property development projects.

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THE ADDITIONAL

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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.

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THE FINANCIAL

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"This is the one of my GEMS and FAVOR! - See you at RM3.50 - RM3.80. By the rumors NOVEMBER's the day!". - Kim Spartan

Regards,

Kim Stockwatch

Telegram : https://www.telegram.me/kimstock (Real live time trading)

Or Join Elite Spartan Group Traders (SGT) by contact via phone number.

ECONBHD (5253)

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