If end April they had completed 25% of works , means , high chance the whole project can be completed by end of the year since they do not have financing issue now , so, they can start collecting the tariff by end of the year .. hope management can provide clear progress of this project soon ..
with these new added jobs , the on hand book order should be close to RM3B now , this 50% more compare to end of 2022 , that means they managed to win Rm1B jobs in six month time .. not sure if this break their record in history ..
Based on report from Public Investment , the jobs secured on hand is RM 2.9B , since most of the contact is valid between 2 to 3 years , that means the revenue of the group for next 3 years should be average around RM1B per year versus today around 400 to 500 mils in past few years , that is about 100% increment , the good things is , I don't think that include the LSS4 tariff cost ,which shall be benefited the group start from mid of 2024 (or early , depends on progress of project) ... Hope to hear more good news from company soon ..
MHB is subsidiary of Petronas , hence, this collaboration could help to strengthen their relationship with Petronas as well , a good progress for company , however I still hope they can win more contracts from overseas market which can give them better margin than local business ...
If Uzma can maintain the EPS mare than 2.5 (which should be no issue as most the contracts start executing in this q) , then the TP should be more than RM1 based on 10X PE .. right now , Kenaga put RM0.9 and Public Invest is RM1.10
overvalue or undervalued ?? The PE is only 8.36 now and if they can sustain the current EPS trend (which should be no issue as the business is picking up ) , the PE will be even lower ... the TP should be more than RM 1 if we use PE 10X as reference .
Oil market is very volatile , this week is 3 months high , then next week could be 3 months low , any single news can spark the market within minute , very scary .. however , it seems like the supply of oil is getting lesser and trigger this uptrend , this shall help to boost the share prices of Uzma , although their business is not directly link to the oil price ..
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