Bursa Alert
Global Market
NewsHot Stock Favelle Favco gains 7% on securing new orders
Page 1 of 1
Hot Stock Favelle Favco gains 7% on securing new orders
by Cals Wed 12 Jun 2013, 11:20
Hot Stock Favelle Favco gains 7% on securing new orders
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Wednesday, 12 June 2013 11:10
A + / A - / Reset
KUALA LUMPUR (June 12): Favelle Favco Bhd was among the top gainers at mid-morning on Wednesday after the company announced that it had received purchase orders worth RM161.1 million.
Despite a bearish view in today’s bourse, the CONSTRUCTION [] and mining outfit gained as much as 17 sen or 6.996% to today’s high of RM2.60.
However, at 10:48 am, Favelle Favco pared its gains to RM2.55 after seeing 846,600 shares changed hands.
So far this year, Favelle Favco has fetched orders collectively valued at RM315.9 million, according to an RHB Research note today.
“This (latest round of) order boosted its order book to RM645 million as at end-May 2013. We believe the company will continue to secure orders for offshore cranes in the second half of this year given the robust oil and gas (O&G) activities in the region,” said RHB analyst Danny Chan in the note.
“We remain positive on the company’s prospects as it will benefit from heightening O&G and construction activities in the region.”
With this optimistic view, the research house kept its “buy” call on Favelle Favco with an unchanged target price of RM3.35, or 31.37% higher from the stock’s last transacted price.
The company’s shareholders also recently approved the proposition of 7.66 sen dividend for its financial year ended December 31, 2012 (FY12).
“Investors who own Favelle Favco shares before August 16, 2013 will be rewarded with a 3.15% dividend yield based on yesterday’s closing price (of RM2.43),” said RHB’s Chan.
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Wednesday, 12 June 2013 11:10
A + / A - / Reset
KUALA LUMPUR (June 12): Favelle Favco Bhd was among the top gainers at mid-morning on Wednesday after the company announced that it had received purchase orders worth RM161.1 million.
Despite a bearish view in today’s bourse, the CONSTRUCTION [] and mining outfit gained as much as 17 sen or 6.996% to today’s high of RM2.60.
However, at 10:48 am, Favelle Favco pared its gains to RM2.55 after seeing 846,600 shares changed hands.
So far this year, Favelle Favco has fetched orders collectively valued at RM315.9 million, according to an RHB Research note today.
“This (latest round of) order boosted its order book to RM645 million as at end-May 2013. We believe the company will continue to secure orders for offshore cranes in the second half of this year given the robust oil and gas (O&G) activities in the region,” said RHB analyst Danny Chan in the note.
“We remain positive on the company’s prospects as it will benefit from heightening O&G and construction activities in the region.”
With this optimistic view, the research house kept its “buy” call on Favelle Favco with an unchanged target price of RM3.35, or 31.37% higher from the stock’s last transacted price.
The company’s shareholders also recently approved the proposition of 7.66 sen dividend for its financial year ended December 31, 2012 (FY12).
“Investors who own Favelle Favco shares before August 16, 2013 will be rewarded with a 3.15% dividend yield based on yesterday’s closing price (of RM2.43),” said RHB’s Chan.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Favelle Favco rises on new crane orders
» Favelle Favco gets 3 orders worth RM93.4m
» Favelle Favco Cranes gets RM89.6m orders (7229)
» Hot Stock Favelle Favco down on weak 1H performance
» Hot Stock Genetec active, up on securing new orders
» Favelle Favco gets 3 orders worth RM93.4m
» Favelle Favco Cranes gets RM89.6m orders (7229)
» Hot Stock Favelle Favco down on weak 1H performance
» Hot Stock Genetec active, up on securing new orders
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum