KUALA LUMPUR (Feb 24): RHB Research Institute is maintaining its forecasts for Eversendai as it had already assumed RM1.5 billion new jobs in FY12.
“Maintain Outperform. Fair value is RM1.95,” it said on Friday.
RHB Research said Eversendai had secured mechanical equipment and structure erection works worth a total of RM367.4 million for the 1,000MW Tanjung Bin power plant extension project.
“This boosts YTD new jobs secured to RM552 million and outstanding CONSTRUCTION [] orderbook by 20% to RM2.2 billion,” it said.
The research house said the EBIT margin of 12%-15% implied RM44.1 million to RM55.1 million EBIT over the 36-month contract period.
“Maintain Outperform. Fair value is RM1.95,” it said on Friday.
RHB Research said Eversendai had secured mechanical equipment and structure erection works worth a total of RM367.4 million for the 1,000MW Tanjung Bin power plant extension project.
“This boosts YTD new jobs secured to RM552 million and outstanding CONSTRUCTION [] orderbook by 20% to RM2.2 billion,” it said.
The research house said the EBIT margin of 12%-15% implied RM44.1 million to RM55.1 million EBIT over the 36-month contract period.
