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Stock With Momentum: Muhibbah Engineering

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Stock With Momentum: Muhibbah Engineering

Post by Cals Thu 03 Dec 2015, 23:24

Stock With Momentum: Muhibbah Engineering

By Asia Analytica / The Edge Financial Daily | December 3, 2015 : 10:23 AM MYT

This article first appeared in The Edge Financial Daily, on December 3, 2015.

[size=16]Muhibbah Engineering (M) Bhd ([You must be registered and logged in to see this image.] Valuation: 0.80, Fundamental: 1.10) (-ve)
SINCE bottoming out at RM1.59 on August 24, shares of Muhibbah (Fundamental: 1.1/3, Valuation: 0.8/3) have risen by 43.8% to close at RM2.28 yesterday.
On Tuesday, the company announced that it has secured a RM300 million engineering, procurement, construction and commissioning contract from PETRONAS to construct two temporary construction facilities in Pengerang, Johor.
A week earlier, Muhibbah was awarded a contract worth between RM93 million to RM100 million from Ophir Production Sdn Bhd to provide engineering, procurement, construction, installation and commissioning of Wellhead Platform for Ophir development project. PETRONAS holds a 20% interest in Ophir Production.
Muhibbah mainly provides engineering and construction services mainly for oil & gas and marine infrastructure.
For 3Q2015, revenue rose 4.7% y-y to RM393.6 million while net profit surged 13.3% to RM23 million, boosted by higher operational efficiencies and forex gain.
[You must be registered and logged in to see this image.]

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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
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