Analyst Research Report Snapshot

Title:

Company Update – WCT (BUY, maintain) - Good earnings visibility and deeply undervalued

Price:

$46.00

Provider:

Affin Investment Bank

Date:

05 Mar 2013

Pages:

5

Type:

AcrobatPDF

Companies referenced:

WCTE.KL

Available for Immediate Download
Summary:

Targeting RM1bn-RM2bn of new contracts in 2013 After the disappointment in 2011, WCT bounced back strongly in 2012 with new contract wins totalling ~RM1.9bn. For this year, the group is targeting RM1bn- RM2bn of new contracts. With the large number of ETP projects likely to take off after the 13th general election, we believe the target set by management is achievable. Key contracts the group is bidding for include Kwasa Damansara Land Civil Works, Sabah Hospitals, Langat 2 WTP, and the long-delayed KK Water Supply Scheme (see Fig 1 next page). Overseas, the tender for Phase 3 of the Batinah Expressway in Oman is worth ~RM1bn. Focus on projects in Malaysia however reduces operating and currency risks. Outstanding external jobs of RM3.1bn are to be completed by 4Q2015 (see Fig 2).

Why buy analyst research?

  • Institutional quality research
  • Available for Immediate Download
  • Detailed company or industry insight
  • Print or save
  • 24 hour customer support
Return to previous page without adding this item to your cart.
Email Customer Support.

About Analyst Research

Analyst research reports are available for immediate download after purchase. You will have unlimited access to the report for 24 hours after purchase, to download, print or save it as many times as you wish. Analyst Research provided by Reuters does not constitute investment advice, and is not endorsed by Reuters Research. This information is protected by copyright and intellectual property laws. More information on Analyst Research.