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NewsAffin Research maintains Add on AQRS, positive on new job
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Affin Research maintains Add on AQRS, positive on new job
by hlk Tue 03 Dec 2013, 19:57
KUALA LUMPUR: Affin Research has maintained its Add rating on Gabungan AQRS with a price target of RM1.21 based on a PE target of 10 times fully diluted CY14 EPS of 12.1 sen.
In a note on Tuesday, Affin said Gabungan AQRS announced that its unit Gabungan Strategik Sdn Bhd, had received a Letter of Award from GDP Architects Sdn Bhd for the construction of two blocks of service apartments for RM173mil.
“The project is located at Taman Perindustrian Teknology Tinggi Subang, Pekan Country Heights, Selangor Darul Ehsan. The construction period for the contract is approximately 32 months and is expected to be completed by April 2016,” it said.
Affin added with the new contract AQRS current order book is estimated at approximately RM1.3bil with RM864mil unbilled.
“The contract is expected to contribute positively to group earnings based on annual contract billings of approximately RM64.7mil, RM64.7mil and RM43.7mil in FY14-FY16, respectively,” it said.
In a note on Tuesday, Affin said Gabungan AQRS announced that its unit Gabungan Strategik Sdn Bhd, had received a Letter of Award from GDP Architects Sdn Bhd for the construction of two blocks of service apartments for RM173mil.
“The project is located at Taman Perindustrian Teknology Tinggi Subang, Pekan Country Heights, Selangor Darul Ehsan. The construction period for the contract is approximately 32 months and is expected to be completed by April 2016,” it said.
Affin added with the new contract AQRS current order book is estimated at approximately RM1.3bil with RM864mil unbilled.
“The contract is expected to contribute positively to group earnings based on annual contract billings of approximately RM64.7mil, RM64.7mil and RM43.7mil in FY14-FY16, respectively,” it said.
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