You like it or not, Eversendai will price in QR 7.4c each QR gradually higher and higher after ramping up the facility to 100% to coup for $6.5B project..
Eversendai Corporation made a remarkable comeback in FY2023 - Koon Yew Yin
Publish date: Mon, 22 Apr 2024, 04:46 PM
Eversendai Corporation Berhad made a remarkable comeback in FY2023, reporting strong profit growth. Here are the key highlights from their financial performance:
Revenue Surge: The company’s revenue for FY2023 surged to RM1.45 billion, up from RM905.30 million in the previous year1. This significant increase was driven by progress on Middle East projects. Gross Profit Turnaround: Eversendai highlighted a gross profit of RM177.2 million in FY2023, a substantial improvement from the RM29.5 million gross loss in FY20221. This turnaround was a result of their proactive approaches and innovative construction methodologies. Net Profit: For the full year, Eversendai registered a net profit of RM26.62 million in FY2023, compared to a net loss of RM361.52 million in FY20222. This positive shift reflects their recovery path and successful project execution. Overall, Eversendai’s commitment to excellence, safety, and consistent performance has contributed to their growth and sustained success in complex construction projects across Asia and the Middle East.
Revenue for FY2023 surged to RM1.45 billion from RM905.30 million the previous year, it said in a filing with the stock exchange today. Eversendai highlighted a gross profit of RM177.2 million in FY2023, a significant turnaround from the RM29.5 million gross loss in FY2022, largely attributable to progress on Middle East projects.
Sendai price chart below is showing its price trend reversal. It is hitting a record high.
A price chart is a record of the last traded price of the day. If there were more sellers than buyers the last traded price would be less than its previous recorded price. As a result, its price chart will be down trend.
In the case of Sendai, in the last 10 days, there were more buyers than sellers every day. As a result, Sendai share price has been going up rapidly to make a record high.
The reason for its share price to go up so rapidly is because it reported 7.4 sen EPS for the quarter ending Dec 2023.
On 18 Mar 2024, 06:33 pm KUALA LUMPUR: Eversendai Corp Bhd, which announced last week that it had secured four new contracts worth an aggregate RM5.4 billion and saw its shares surge over 70% after that, provided more details about the projects.
It disclosed via a bourse filing the names of the companies that awarded the jobs, its recipient units, the tenures of the contracts, as well as the dates on which the deals were secured.
“We are unable to provide a breakdown of project/contract value as this would violate the NDAs (non-disclosure agreements) signed as well as jeopardise our position with our competitors and clients,” the group added.
Eversendai provides more info on its RM5.4b contract wins
By Izzul Ikram / theedgemalaysia.com
18 Mar 2024, 06:33 pm
Its unit Eversendai Engineering Saudi LLC, in collaboration with Albawani Co Ltd, bagged a job for the structural steel signature building at the Trojena Ski Village from NEOM Company on March 7. The project is expected to be completed in 28 and a half months.
It also said Eversendai Engineering Saudi is now in talks with Albawani to formalise their collaborating relationship for the job, but noted that this will not be in the form of establishing a joint venture (JV).
“Discussions are in progress and once formalised, we will make the announcement. No incorporated [JV] will be formed, this is a project-specific collaboration,” it added.
Another subsidiary, Eversendai Mega Structure FZ LLC, secured its contract in the UAE for structural steel works for the Wynn Al Marjan Island Integrated Resort Development in Ras Al Khaimah from ALEC Engineering and Contracting LLC — RAK Branch. The job was awarded on Dec 4, 2023, and will last for 11 and a half months.
Its subsidiary in India, Eversendai Construction Pt Ltd, secured two structural steel projects, one from RUPA Infotech & Infrastructure Pt Ltd (spanning 23 months) and another from Maryland Infrastructure Pt Ltd (spanning 25 months) on March 8. These projects are for the Rupa IT building and the Rupa Crystal IT building. In addressing the delay between the dates the contracts were secured and its announcement to the bourse, Eversendai said this was also due to the NDAs, as it was required to obtain consent from its end-clients before any public announcement.
I believe uncle YY can break through 45c by Friday.. It need a rest to flushing out weak holders then can move up... $6.5B steel project in the execution, Q to Q result will be better and better... 40c is way to cheap
I think it will be more healthy for the price to make wave c correction for few days back to 31/34. After that can easily break new 52wh for wave 3 primary. However if volume too strong, can also break straight 45 but all indi shows overbought for now
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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....
pang72
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Posted by pang72 > 2024-04-18 15:36 | Report Abuse
You like it or not, Eversendai will price in QR 7.4c each QR gradually higher and higher after ramping up the facility to 100% to coup for $6.5B project..