Source close to LRT says last 2 packages of LRT project is being delayed because they haven't settle the under table amount yet. They were supposed to announce last month but only WCT got through. Once Fajar willing to go the figure they want, they will announce.
last month was supposed to award to 3 companies. TRC and local private company was awarded months ago. 3 packages supposed to be awarded last month to full conclude LRT 3 and WCT got one and there are still 2 more to go.
Since July, Star Building (FAJAR, 7047, Main Board Construction) has received a new order of RM122 million.
By contrast, only $ 69 million in new contracts were made for the full year ended June 2017.
At present, the company is bidding for RM3 billion contract, mainly railway infrastructure.
Expert advice
After the loss of two fiscal years, the construction business should be in 2018 fiscal year turn.
We believe that the rise of the Star Building will become a major competitor for large-scale railway projects, especially the light railways of the third route viaducts and stations, as well as the Kinmen and Matsu two-track project.
In addition, the train assets are simplifying the railway assets, the future construction of the stars may bid for maintenance contracts.
It is expected that the company will add orders to RM60 million in 2018 fiscal year and RM700 million in 2019 and 2020, and the net profit per share for the three years is 12% higher.
This represents a new contract of RM488 million in the 2018 fiscal year.
As for the timber business, profit for the 2018 fiscal year is similar to that of the previous fiscal year, but it will fall slightly to RM78 million in 2019, as the first franchise will expire in May 2019.
The target price of RM1.33 is a discount of 20% of net asset value per share of $ 1.65.
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
bleuerouge
3,221 posts
Posted by bleuerouge > 2017-09-06 21:49 | Report Abuse
get set, tomorrow will be good. long time already..