Holdings Bhd to win at least one contract from the Pan Malaysia HUC works worth around RM1.1 billion, due to the limited number of players with the capabilities to compete.
Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/20120726173213/Article/index_html
Published: July 26, 2012
The research house said there were nine jobs in total to be awarded, with RM10 billion in total value.
"With fewer than 20 players who have the capabilities to bid and compete for the tenders, Dayang Enterprise has a 50 per cent chance to bag the award.
"Should the group secure at least one contract, earnings projections could reach around RM45 million a year for the next five years with an estimated blended net margin of 21 per cent," it said in a research note today.
Dayang Enterprise currently has an order book of around RM1.2 billion with a burn rate of up to four years, and with additional job wins of potentially RM1 billion materialising in the foreseeable future, the order book could very well
double, MIDF Research said.
"We project the group's revenue, earnings before interest and tax and net profit to grow at a compounded average growth rate of 20 per cent, 22.7 per cent and 18.8 per cent, respectively, from the 2009 to 2013 financial years," it added.
MIDF Research has placed a fair value of RM2.32 on Dayang Enterprise. -- BERNAMA
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