Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Bursa Community

Bursa Malaysia Stock Forum - Enriching You!


Cypark earnings to rise on more solar power capacity, says Public IB

Bursa Community :: Community News

Go down

Cypark earnings to rise on more solar power capacity, says Public IB Empty Cypark earnings to rise on more solar power capacity, says Public IB

Post by Cals Wed 09 Apr 2014, 01:52

Cypark earnings to rise on more solar power capacity, says Public IB
Business & Markets 2014
Written by Jeffrey Tan of theedgemalaysia.com   
Tuesday, 08 April 2014 15:06

KUALA LUMPUR (Apr 8): Cypark Resources Bhd’s earnings will see an uptick, augmented further by more capacity plant-ups this year and next, according to Public Investment Bank Research.

In a note today, the research house said it sees value in Cypark Resources Bhd as its renewable energy (RE) business will provide the thrust going forward.

Public IB research house Ching Weng Jin said the government’s recent move to hike the surcharge on electricity bills for the RE Fund to 1.6% from 1.0%, effective 1 Jan, 2014, augurs well for the firm.

To top that, 1Malaysia Development Berhad's foray into the solar-generation space amplifies the attractiveness of the renewable energy space.

“We rate Cypark an ‘outperform’ at RM2.87 with unchanged target price of RM3.20,” said Public IB research analyst Ching Weng Jin.

Meanwhile, Ching added Cypark’s order book will be boosted after it clinched the RM34.5 million upgrading job of the Kajang SILK Highway.

“However, we make no adjustments to our earnings estimates,” said Ching.

Ching said the latest contract forms part of Public IB’s replenishment assumption of about RM100 million per annum for the coming years.
Cals
Cals
Administrator
Administrator

Posts : 25277 Credits : 57721 Reputation : 1766
Male 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 I’️d have been right perhaps as often as seven out of ten times.”
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

Back to top Go down

Back to top

- Similar topics

Bursa Community :: Community News

 
Permissions in this forum:
You cannot reply to topics in this forum