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NewsMudajaya has best chance of securing Kidex job, says CIMB Research
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Mudajaya has best chance of securing Kidex job, says CIMB Research
by Cals Mon 07 Apr 2014, 16:45
| Mudajaya has best chance of securing Kidex job, says CIMB Research |
| Business & Markets 2014 |
| Written by theedgemalaysia.com |
| Monday, 07 April 2014 09:33 |
KUALA LUMPUR (April 7): CIMB Research has maintained its Add rating on Mudajaya Group Bhd at RM2.69 with an unchanged target price of RM3.19 and said there were no major surprises in the Edge Weekly article about Kinrara- Damansara Expressway (Kidex).
The Edge weekly in its latest edition had reported that Mudajaya was one of two listed frontrunners, which was within the research house said was within its expectation.
In a note Monday, CIMB Research analyst Sharizan Rosely said he continued to believe that MUdajaya has the best chance of securing the project, given its strong domestic highway track record, especially for elevated structures.
He said this project would more than double its current order book.
“The decision on Kidex could be made in 2H. This project and the group's power plant theme are potential catalysts in 2014.
“We maintain our Add rating and target price, still pegged to a 40% discount to RNAV discount,” he said.
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