RHB Research starts coverage on Pintaras Jaya, fair value RM7
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RHB Research starts coverage on Pintaras Jaya, fair value RM7
RHB Research starts coverage on Pintaras Jaya, fair value RM7
Business & Markets 2013
Written by theedgemalaysia.com
Wednesday, 31 July 2013 09:33
KUALA LUMPUR (July 31): RHB Research has initiated coverage on Pintaras Jaya with a Buy rating and a fair value of RM7, and said it believed Pintaras was in “the right place at the time”, ie the local piling sector is evolving to a super cycle from a cyclical upturn, as the development of large-scale infrastructure, property and oil & gas (O&G) projects in Malaysia shift into higher gear.
In a note Wednesday, it said Pintaras was the best in the trade.
The research house said Pintaras had a strong competitive edge against peers and, contrary to the “intuition” of the investing fraternity, the industry has very strong defences against potential new entrants.
Leveraging on RM100 million capital expenditure, Pintaras is hopeful to double its outstanding orderbook to RM300 million at some point in the near future from RM150 million currently, it said.
“We project Pintaras’ net profit growth to shift into a higher gear at a CAGR of 18.7% between FY12 and FY15 vis-à-vis 10.5% recorded in FY12.
“We initiate coverage on Pintaras with a Buy recommendation and a fair value of RM7,” it said.
Business & Markets 2013
Written by theedgemalaysia.com
Wednesday, 31 July 2013 09:33
KUALA LUMPUR (July 31): RHB Research has initiated coverage on Pintaras Jaya with a Buy rating and a fair value of RM7, and said it believed Pintaras was in “the right place at the time”, ie the local piling sector is evolving to a super cycle from a cyclical upturn, as the development of large-scale infrastructure, property and oil & gas (O&G) projects in Malaysia shift into higher gear.
In a note Wednesday, it said Pintaras was the best in the trade.
The research house said Pintaras had a strong competitive edge against peers and, contrary to the “intuition” of the investing fraternity, the industry has very strong defences against potential new entrants.
Leveraging on RM100 million capital expenditure, Pintaras is hopeful to double its outstanding orderbook to RM300 million at some point in the near future from RM150 million currently, it said.
“We project Pintaras’ net profit growth to shift into a higher gear at a CAGR of 18.7% between FY12 and FY15 vis-à-vis 10.5% recorded in FY12.
“We initiate coverage on Pintaras with a Buy recommendation and a fair value of RM7,” it said.
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