An official blog in I3investor to publish research reports provided by RHB Research team.
All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd Level 3A, Tower One, RHB Centre Jalan Tun Razak Kuala Lumpur Malaysia
We are ceasing coverage on Advancecon due to a reallocation of internal resources. Our last call was SELL with a TP of MYR0.21.
1Q24 results were underwhelming. ADVC reported a net loss of MYR14.5m (1Q23: +MYR0.2m), no thanks to the extension of time to complete the West Coast Expressway and East Coast Rail Link projects, which led to cost overruns. All segments were in the red except for the quarry business (PBT: MYR3.7m), which was due to one-off non-operating gains on the disposal of quarry assets amounting MYR4.6m – indicating an operational loss of MYR0.9m.
Ceasing coverage. Our most recent recommendation was SELL with a TP of MYR0.21 based on our SOP valuation. The TP had incorporated a 4% ESG discount, given its then ESG score of 2.6 vs the 3.0 country median.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....