As GLC stock , Muhibah now only move up around 15.7% to 17.9%. If we compare with others GLC stock like Drbhcom, Myeg, Presbhd, Sime, and etc is already up around 50%.
MUHIBAH reported consolidated revenue (including share of associates' revenue) of RM1.5 billion with profit after taxation of RM146.0 million for the cummulative period ended 30 September 2017 as compared to revenue (including share of associates' revenue) of RM1.5billion with profit after taxation of RM112.1million forthe corresponding period ended 30 September 2016.
The improvement is mainly contributed by construction division within creased contribution from construction joint venture projects.
The concession business has also seen growth in both revenue and profit in tandem with the economy and tourism growth.
MUHIBAH generated higher consolidated revenue (including share of associates' revenue) of RM652.1million with higher profit after taxation of RM53.7 million for the preceding quarter as compared to revenue (including share of associates' revenue) Of RM514.1 million with profit after taxation of RM47.9 million for the current quarter, mainly resulted from higher work progress of the construction division in the preceding quarter.
MUHIBAH has good ground to defend the alleged claims from two Nominated Subcontractors for Hamad International Airport, namely Eisenmann Anlagenbau GmbH&Co.KGand Envac Scandinavia A.B., amounting to a total of QAR70.1million and has fileda counter claim against Envac Scandinavia A.B.The above mention edarbitration cases are ongoing.
KUALA LUMPUR (March 21): Construction works for Mass Rapid Transit Sungai Buloh-Serdang-Putrajaya Line (MRT2) are set to gain stronger momentum this year as all major civil work packages have been awarded, said CIMB Research.
“Ten major civil works packages have been awarded, including stations and 1 single largescale tunneling package. Individually, the elevated section is 20.3% completed, underground section 26%, and systems works 12%,” CIMB Research said in a note yesterday after meeting with MRT Corp's management on Friday (March 16).
Meanwhile, progress of MRT 3 will be accelerated in 2018, the research house said.
“MRT Corp expects the decision on the turnkey contract award within the next few weeks. We believe there is still a possibility that more than one joint venture will secure the contract, due to the technical expertise and financing required,” CIMB Research said.
By November, MRT Corp targets to finalise all required approvals before transferring project works to the turnkey contractor, with construction expected to start in 3Q2019, the note added.
As for MRT SBK Line (MRT 1), MRT Corp said the current daily ridership stands at 130,000 to 150,000, which is still short of the targeted 400,000 daily ridership.
It said the target should be achievable over time, as the rail system matures and public transport modal share rises for major catchment areas. “There were, however, no details on the targeted break-even ridership threshold,” CIMB Research said.
The research house maintains Overweight on the construction sector, with Gamuda Bhd as its top pick for rail contracts.
“At later stages, we believe IJM Corp Bhd and Muhibbah Engineering (M) Bhd could secure MRT 3 packages as well. Key sector risk is rising competition from foreign contractors,” the note added.
Pc Tan, couldn't agree more with you on the relative strength of Muhibah with other construction sector. While on coming Q result, can't be sure if it would be positive or optimistic.
As I see it, as long as the company is well managed and efficient in their capital allocation, it would be probably optimistic in winning bids with low pricing.
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....
yc123
118 posts
Posted by yc123 > 2018-01-08 11:17 | Report Abuse
my cost above 3, I been holding more than 5 years....