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NewsKenanga Research maintains Outperform on Kimlun, TP RM1.77
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Kenanga Research maintains Outperform on Kimlun, TP RM1.77
by hlk Fri 08 Jun 2012, 11:58
KUALA LUMPUR: Kenanga Investment Bank Research is maintaining its Outperform on Kimlun with a target price of RM1.77
It said on Friday that was an attractive upside of 20% to its TP of RM1.77.
“We maintain our TP of RM1.77 based on 8.0 times price-to-earnings ratio (PER) on its FY13E EPS of 24.7sen,” it said.
On Thursday, Kimlun announced that MMC-Gamuda KVMRT (T) Sdn Bhd
accepted its offer to manufacture, supply and deliver precast concrete
tunnel lining segments (TLS) for the Sungai Buloh-Kajang MRT line for
RM48mil.
Kenanga Research said it was neutral on this news as
the contract award has already been factored in as part of its
additional order book replenishment assumption of RM200mil for FY12.
The research house added the delivery of TLS will take place in Q1, 2013 when the initial MRT tunnelling work starts operation.
This
timeline is also in line with the completion of Kimlun's new plant in
Seremban for precast production, said the research house.
It said on Friday that was an attractive upside of 20% to its TP of RM1.77.
“We maintain our TP of RM1.77 based on 8.0 times price-to-earnings ratio (PER) on its FY13E EPS of 24.7sen,” it said.
On Thursday, Kimlun announced that MMC-Gamuda KVMRT (T) Sdn Bhd
accepted its offer to manufacture, supply and deliver precast concrete
tunnel lining segments (TLS) for the Sungai Buloh-Kajang MRT line for
RM48mil.
Kenanga Research said it was neutral on this news as
the contract award has already been factored in as part of its
additional order book replenishment assumption of RM200mil for FY12.
The research house added the delivery of TLS will take place in Q1, 2013 when the initial MRT tunnelling work starts operation.
This
timeline is also in line with the completion of Kimlun's new plant in
Seremban for precast production, said the research house.
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Re: Kenanga Research maintains Outperform on Kimlun, TP RM1.77
by Cals Fri 08 Jun 2012, 13:00
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