Latest Reports
|
Date |
Description |
Country |
Analyst |
Download |
|
30-Nov-2023 |
Kumpulan Kitacon Bhd – Resilience and Growth - KITACONs Winning Strategy
Recommendation - BUY |
Malaysia |
Malaysia Research Team |
|
20-Apr-2023 |
We like Sunview for its strong unbilled order book of RM687m and potentially benefit from the government initiative project to achieve net zero carbon by 2050. We have a BUY call on the stock as it is trading at FY24 PE of 11x which is more compelling than Samaiden at 15x and Solarvest at 21x. |
Malaysia |
Malaysia Research Team |
|
25-Aug-2021 |
We recommend investors to look through the COVID-19 impact and Buy GDB, because GDB is able to grow its orderbook remarkably since 2017 but without compromising on its margin. With its outstanding track record of delivering projects ahead of time, GDB has found a niche in the competitive construction industry. It is now trading at 2022 PE of 7.6x which is lower than its historical PE of 10x. |
Malaysia |
Malaysia Research Team |
|
25-Nov-2020 |
With current market cap of RM156m, we believe TCS has ample room to grow. It fits right into the key metrics that we evaluate including committed and ambitious owner-operator, high ROE and in net cash position. We also like the idea of TCS venturing into infra projects for further growth. Although share price has recovered, it is still trading at reasonable FY21 PE of 7.7x, we recommend a Buy on TCS. |
Malaysia |
Malaysia Research Team |
|
29-May-2020 |
The new owner of SCIB is making the company into an international civil engineering construction entity. Its current order book to market cap ratio is at a high of 6.0x and SCIB can potentially secure a total of RM2b worth of contracts in 2020. With high order book, SCIB FY21 PE is only 4.3x. Recommend BUY. |
Malaysia |
Malaysia Research Team |
|
05-Nov-2019 |
We like Vizione for its medium-term earnings visibility, strong catalyst from Papar Dam project in Sabah and good execution proven by double digit pre-tax margin. Recommend Strong Buy for medium term |
Malaysia |
Malaysia Research Team |
|
21-Aug-2019 |
"We like Muhibbah for its stable yet high growth airport business, growing contribution from Favelle Favco and potential turnaround in construction division. Muhibbah is trading at undemanding 7.2x FY20F P/E. Recommend BUY." |
Malaysia |
Malaysia Research Team |
|
12-Apr-2019 |
We like Jaks for its strong profit from its Vietnam power plant construction over the next one year and subsequently strong recurring income from 25-year IPP concession. At an attractive FY19 PE of 3.9x, it is a BUY. |
Malaysia |
Malaysia Research Team |
|
12-Sep-2018 |
Vizione’s outstanding construction orderbook of RM2.8b provides it with strong earnings visibility with solid revenue cover of 6.8x and healthy order book/market cap ratio of 5.6x. It is now trading at an attractive FY5/19F PER of 6.2x. We reiterate our BUY call. |
Malaysia |
Malaysia Research Team |
|
27-Jun-2018 |
Ekovest Bhd (“Ekovest”) – Deep Value Buy, Medium Term Buy |
Malaysia |
Malaysia Research Team |
|
27-Feb-2018 |
We like HSL for its medium-term earnings visibility, proven track record, superior profit margins and strong growth prospects. We expect the company to register double-digit 2-year earnings CAGR of 39.5% on the back of higher progress billings for its three mega projects as well as other ongoing projects (see Figure 2). Excluding its net cash of 10.9 sen per share, the stock is trading at an attractive 2018 PER of 10x. Recommend Medium Term Buy. |
Malaysia |
Malaysia Research Team |
|
28-Nov-2017 |
Ekovest share price has corrected by as much as 18% after Ekovest-IWC deal announcement. We believe this short-term correction presents a good buying opportunity. Even if the deal does not materialise, Ekovest should be worth at least RM1.81 per share based on our conservative valuations. Recommend Buy.” |
Malaysia |
Malaysia Research Team |
|
25-Sep-2017 |
Whole New Construction Company. 9.7x FY5/19F and order book/market cap of 6.6x after the completion of WSyukur acquisition. |
Malaysia |
Malaysia Research Team |
|
25-Oct-2016 |
GKent: Good earnings visibility with order books that are 12.6x FY16 revenues. |
Malaysia |
Malaysia Research Team |
|
27-Sep-2016 |
GAQRS: Share price has fallen 20%, along with the market, but its fundamentals have strengthened |
Malaysia |
Malaysia Research Team |
|
29-Jun-2016 |
Hock Seng Lee: The preferred exposure to Sarawak’s construction boom |
Malaysia |
Malaysia Research Team |
|
19-May-2016 |
Protasco: A combination of growth and yield, with sustainable recurring earnings |
Malaysia |
Malaysia Research Team |
|
27-Apr-2016 |
Gadang: Given a robust construction sector, we find valuation compelling. |
Malaysia |
Malaysia Research Team |
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