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More Jobs Expected For Econpile
Malaysia Daily Bulletin | 12 November 2015
  • AmResearch expects more jobs to flow into Econpile Holdings, given its current tender book of RM1 billion and said that the firm’s prospects remained bright as demand for piling has stayed resilient in view of upcoming property jobs as well as infrastructure works.
  • The group stands a good chance to secure piling jobs for MRT2 and LRT3, given its experience in the MRT project, according to the research house.
  • Econpile has recently secured a RM120.5 million piling and basement works contract for the Menara Felcra mixed development in Kuala Lumpur, the first major contract win in FY16, which raises its outstanding order book to RM590 million.
  • The company is due to release 1Q16 financial results on 27 November and the research house projects that margins may be sustained at the current levels, or even surprise on the upside due to better efficiency and lower raw material prices.

Significance: Overall, continued demand for piling jobs should sustain momentum given Econpile’s expertise and leading position in the industry. Thus, AmResearch has maintained its ‘Buy’ call on the stock, with a fair value of RM1.50.

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