Buy as much as possible

Maybank IB Retail Research

 

Kerjaya’s 1Q17 net profit jumped 22% YoY and 10% QoQ to MYR28.9m, accounting for 23% of consensus full-year estimate. The strong 1Q17 results were mainly driven by a 18% YoY rise in construction PAT. No dividend was declared for the current quarter.

 

Construction PAT was propelled by a 23% rise in revenue, supported by its outstanding order book of MYR2.6b. This more than offset a 0.6ppts decline in construction PAT margin (1Q17: 13.2% vs 13.8% in 1Q16). Kerjaya’s on-going projects are mainly awarded by blue chips property developers in Malaysia.

 

The stronger construction earnings also helped to offset: 1) a 70% YoY (-MYR0.6m) decline in manufacturing PAT (production of lighting products and kitchen solutions) mainly due to completion of existing project and intense competition; and 2) a 38% YoY (-MYR0.4m) drop in property PAT.

 

For Kerjaya, construction is always the bread and butter. Despite its strong order book of MYR2.6b, the group is still aggressively bidding for works. Its tender book is about MYR1.8b (historical success rate is ~20%). Meanwhile, the investment in industrialised building system aluminium formwork system should help to sustain its margins in the long-term.

 

On property, the group will be banking on its Vista Residences @ Genting Highlands (GDV: MYR300m), which has achieved a take-up rate of approximately 63% at end-Mar 2017. The group also has two more projects in the pipeline namely Genting Permai and Monterez, Shah Alam (likely launch in 2018) with a total gross development value of MYR500m. Unbilled sales were MYR70.7m.

 

Against strong construction pipeline and potentially stronger property earnings in the subsequent quarters, the street is forecasting a 12.8% 2-year EPS CAGR for FY17-19. Brokers are positively biased on the stock with one Buy and one Hold. The mean target price is MYR3.39.

 

While prospects look robust, the key setback here is that valuation is slightly on the high side. At current price, the stock is trading at 14.5x consensus FY17 EPS of 22sen, which is just a tad lower than the Bursa Malaysia Construction Index’s 2017 PER of 16.2x.

 

Note that the group is sitting on a net cash of ~MYR145m at end-Mar 2017, which is equivalent to about 28sen/sh. Also, the 2007/2017 warrants will expire on 20 Dec 2017, which upon converting, could raise another ~MYR15m to the group.

Wonderful results and performances.

moneySIFU dah lari kuat kuat....and he must be facing margin call now...bought at 3.07/3.11 on Wednesday and dare to be so boastful.

moneySIFU must be facing margin call now , last wed bought at 3.07/11. and dare to be so boastful...

haha....lao sai 20%...

Stop talking nonsense here

Buy as much as possible

Net profit up 22%, cash flow improved.

Today will announce quarterly results at 1230pm

Jealous? you are thinking too much moneySIFU.

Lol...no worry, big news awaiting you soon. Enjoy your day

The problem with moneySIFU is that he secretly and quietly accumulated these stocks. Then out of the blues created a lucrative articles which will entice people to buy. Pity those people who blindly follow him ( not me of course, I am not as silly as others). After that, MoneySIFU will quietly sell all his shares,without a word of sayonara in the group.

moneySIFU : Your so called flamboyant articles had caused the exaggerated rise in the share prices of Ekovest, GKent and Oldtown prior. I belief you are a few of the syndicates operating behind these type of stocks. SC is watching over your statements and articles closely. Becareful.

MONEYsifu : After that, u will silently sell the stock and dump it...like what u did on Ekovest, GKent...typical fox

I doubt u managed to grab at 3.07, unless u buy in small amounts

Bad results coming?

bought more 89sen

i doubt the results of JAKS. It may be manipulated as the right hand man of KYY is in charge in financing department too. Suspicious

Wow break below 90sen already

Liihen dividend yield is approx 7% per annum, same goes to Magni...I am lucky to have bought both of them before the ex bonus in 2015.

My cost for Liihen is only RM 1.30 , Magni RM 2.12

USD continue to weak against MYR 4.29now and this will not help the situation. KYY for sure will sell again today. Let's see.

I think tomorrow Liihen will drop as this results are bad n disappointing. Higher labour costs in Malaysia is eating into.it's earnings.

COMPANY UPDATE

 Econpile Holdings Bhd was awarded a
RM48.5 mln contract by Pembinaan Key
Sdn Bhd for piling, basement and substructure
work on a 33-storey office block
with a 8-stoery podium on a site located
in Jalan Conlay, Kuala Lumpur. The
project is expected to take 15 months to
complete.
Comments
 With the inclusion of the above contract,
Econpile has secured nearly RM1.2 bln
worth of new projects for FY17, which is
per our orderbook replenishment
expectation for the year. As the outlook
for the construction sector is still
buoyant, we lift our orderbook
replenishment assumption to RM1.0 bln
(from RM700 mln) for FY18 and this
raises our FY18 net profit forecast to
RM93.6 mln (from RM89.3 mln). There is
no change to our FY17 net profit estimate
at RM81.9 mln.
 At RM2.42, however, Econpile trades at
PERs of 14.9x and 13.1x for FY17 and
FY18 respectively, which are within its
peer averages. Hence, we retain our
HOLD recommendation on Econpile.
 We also lift our target price to RM2.40,
from RM2.30 after tweaking our earnings
estimates. Our target price is derived
from ascribing an unchanged target PER
of 13.0x to its FY18 (unchanged) EPS of
18.5 sen. The ascribed PER is within the
average of its peers with similar market
capitalisation.

The contracts awarded by various companies are as follows : - 23rdMay 2017 :TSM Towers awarded RM 77mil project for 15 months
- May 2017 : BCB Bhd awarded RM 207 mil project for 28 months
- March 31 2017 : STP 1 Project, Penang, value at RM 31.6mil for 18 months
- Sept 5 2016 : Ecoworld Eco Terraces, Penang , value at RM 146.7 mil for 2.5 years
- July 27 2016 : Nusametro. Persiaran Dutamas, value at RM 338.8 mil for 38 months
-July 19 2016 :Yong Tai Apple 99 Project @ Melaka, value at RM 213.75mil for 27 months
-May 31 2016 : Eco Sanctuary Project , value at RM 172.4 mil for 25 months
-May 19 2016 : BCB Bhd Johor, Elysia Park Residence, value at RM 312.85 mil for 36 months
-Mar 3 2016 : CCCC award of STP2, Penang Project, value at RM 181.3 mil for 24 months
- March 3 2016 : Kerjaya Prospek Vista Residences @ Genting Highlands, value at RM 102.45mil for 24 months
It is currently having a total outstanding order book of RM 2.7 billion which will keep Kerjaya busy for the next 2.5 - 3 years.

wow marvellous..another projects

RM 4.50 IV

Among the major contracts awarded to Econpile so far are :
- Jalan Conlay sub structure work RM 48.5mil ( awarded on May 19th 2017 duration 15 months)
- MRT 2 diaphragm wall for the KVMRT project ( Awarded March 29th 2017 , RM 93mil, 450 Days)
- Damansara Pavillion project ( Awarded Feb 22nd 2017, RM 570mil, 28 months )
- SUKE Project ( Awarded Dec 28th 2016, RM 158.3mil, 17months)
- MRT 2 Viaduct Project ( Awarded Oct 21st 2016, RM 43.5mil, 24 months)
- Maju Project ( Awarded Oct 4th 2016, RM 280mil, 15months )
- 99, Jalan Ampang ( Awarded June 6th 2016, RM 208mil, 26 months)
- Prestij Permai Sg Buloh Project ( Awarded Apr 8th 2016, RM 53.5mil, 20 months)
- EcoMeridian Project, Penang ( Awarded March 31st 2016, RM 51.63mil, 14.5 months)
-EKVE from Ahmad Zaki ( Awarded March 3rd 2016, RM 76.9mil, 24 months)
- Mixed commercial lot from Ahmad Zaki ( Awarded Dec 31st 2015, RM 20.3mil, 8 months ---> COMPLETED JULY 2016)
- Nusmetro Persiaran Dutamas ( Awarded 24th Nov 2015, RM 95.5mil, 19 months ---> DUE TO BE COMPLETED JUNE 2017)
-WZR Properties ( Awarded on 1st Nov 2015, RM 120.5mil, 18 months, ---> TO BE COMPLETED MAY 2017)
- AZRB Jalan Sultan Ismail ( Awarded 6th June 2015, RM 49.9 mil.....COMPLETED SEPT 2016)
-Jalan Conlay ( Awarded Jan 2015, RM 128.9 Mil....COMPLETED DEC 2016)
- and a few more smaller projects worth between RM 23mil to RM 128mil , which were awarded in between June 2014 - Dec 2014th, all of them which already being completed by now.

Buy as much as possible

Up up up! Rm2.50 at least

Buy as much as possible

Rm4.00 handsome

See u at the AGM

3.24 now huat ahh! 4.00 coming soon withh good, news this Thursday

Buy as much as possible before results out 5pm

Today MFCB will, announce their quarterly results after the AGM

Focus M has a big article about MFCB . It has a TP RM 4.48. Don sahong hydroelectric project will contribute positively from this year until 2019. The power projects in China and Tawau will likely be renewed.

But i know u dont have shares in Econpile and Kerjaya, thats why you on purpose to say bad on me there.

The coming results will be very good for Padini

For the first time suregain is in agreement with me...

Hope Kerjaya will surpass RM 3.20 tomorow

Hope Magni can reach RM 6.00 tomorrow

After the split, the share price will continue to rise due to:
- cheaper and affordable for public to purchase
- more shares available ( approx 160mil vs 80mil shares now)
-by3Q 2017, the opening of new factory to increase production and supplies.

Buy now before it split.

http://www.thestar.com.my/business/business-news/2017/05/20/gabungan-back-on-investors-radar/

Buy as much as possible, The results in June will be very good

May 25th the announcement of results

Econpile is highlighted in the latest the edge weekly..

marvellous! 5.65 multi year high....

wow multi year high 2.46!