搁置了HSR, MRT3 已经造成被抛售的对象(无论该公司有多少建筑订单在手里都好,无论是该公司有没有去竞标工程工程项目都好) Jiat lat, GKENT aslo tender (not Open tender) ECRL projects rm1.0 billion (还未知道未来命运。)
RHB, CIMB, KENANGA, HONGLEONG 纷纷调低目标价,为什么?因为他们的顾客很多在GE14 以为Barisan National 继续组成政府,所以大量购买了建筑stocks.(调低目标价目前是要减少他们之前的亏损。)LIMIT down 时候很多人都已经不够钱去再进货了,所以,他们持有的价位很高,相信亏了几十%.
This info will support the counter if there's a future for this company. Currently, the last significant contract they added to their order book was back in 2016.
We downgrade Gamuda from Buy to Hold following the cancellation of mega rail projects such as MRT3 and HSR that it was previously eyeing on. While these contracts were never imputed directly into our forecast, we reckon these cancellations would make it hard to justify Gamuda’s pre-GE14 valuations. Earnings over the next 3 years (FY18-20) will nonetheless, still be supported by its ongoing MRT2 works. However, earnings sustainability beyond this would be in question. We lower construction P/E target from 18x to 15x and also incorporate a 30% discount to SOP. This reduces our TP from RM5.66 to RM3.58.
George Kent – Downgrade to HOLD
We downgrade GKent from Buy to Hold following the cancellation of mega rail projects such as MRT3 and HSR which it was previously targeting for. While these contracts were never imputed directly into our forecast, we reckon these cancellations would make it hard to justify GKent’s pre-GE14 valuations. Earnings over the next 3 years (FY19-21) would be supported be the LRT3 PDP role. Nonetheless, earnings sustainability beyond this is in question. Our revised SOP valuation for GKent is based on a bear case scenario using (i) NPV (WACC: 12%) for its engineering division with nil orderbook replenishment, (ii) 10x P/E for metering assuming no YoY growth and (iii) 30% discount to its net cash per share. Under this bear case scenario, our SOP based TP is reduced from RM3.25 to RM1.50. WCT – Downgrade to HOLD
We downgrade WCT from Buy to HOLD given the macro slowdown in job flows arising from the review of mega projects. Our annual job win target has already been reduced from RM1bn to RM500m during the 1QFY18 results review. However, we take this opportunity to widen WCT’s SOP discount from 30% to 50%. Our TP is cut from 1.09 to RM0.78.
MRCB – Downgrade to HOLD
We downgrade MRCB from Buy to HOLD given its recent share price rebound which narrows the upside potential. Our SOP based TP is unchanged at RM0.68.
Source: Hong Leong Investment Bank Research - 5 Jun 2018
Guan Eng: We have documents proving SSER link to 1MDB In his exposé of the alleged “suspicious transactions” in two government projects valued at almost RM10 billion, Finance Minister Lim Guan Eng has also revealed that the company involved is linked to troubled state investment fund 1MDB.
The company in question is Suria Strategic Energy Resources (SSER), a fully-owned subsidiary of the Finance Ministry, set up in May 2016 to deliver two projects: the Multi-Product Pipeline (MPP) in Malacca and the Trans-Sabah Gas Pipeline (TSGP)...
A lot of GKENT's lovers Investors is holding at average cost of rm3.00-3.20 after rm3.80 not much monies to avg down their price at current price since they accumulated quite so much share before General Election 14. But, I'm sure is that some of them sold during FIRST LIMIT DOWN.
OTHERS GEORGE KENT (MALAYSIA) BERHAD ("THE COMPANY" OR "GEORGE KENT") - Proposed renewal of the authority for the Company to purchase its own shares of up to 10% of its total number of issued shares ("Proposed Renewal of Share Buy-Back Authority")
GEORGE KENT (MALAYSIA) BERHAD Type Announcement Subject OTHERS
Description GEORGE KENT (MALAYSIA) BERHAD ("THE COMPANY" OR "GEORGE KENT") - Proposed renewal of the authority for the Company to purchase its own shares of up to 10% of its total number of issued shares ("Proposed Renewal of Share Buy-Back Authority")
As announced on 4 June 2018, at the Extraordinary General Meeting of the Company held on 4 June 2018, the mandate from shareholders was obtained for the authority to the Company to purchase its own shares of up to 10% of its total number of issued shares, such mandate to be valid until the next Annual General Meeting i.e. the Sixty-Seventh Annual General Meeting (“67th AGM”) of the Company to be held on 9 July 2018.
The Board of Directors (“the Board”) of George Kent wishes to announce that the Company proposes to obtain shareholders’ approval for the Proposed Renewal of Share Buy-Back Authority at the forthcoming 67th AGM of the Company.
A Statement to Shareholders in relation to the Proposed Renewal of Share Buy-Back Authority together with an Addendum to the Notice of 67th AGM for inclusion of an additional Ordinary Resolution pertaining to the Proposed Renewal of Share Buy-Back Authority and revised Form of Proxy will be distributed to shareholders on 8 June 2018.
We downgrade GKent from Buy to Hold following the cancellation of mega rail projects such as MRT3 and HSR which it was previously targeting for. While these contracts were never imputed directly into our forecast, we reckon these cancellations would make it hard to justify GKent’s pre-GE14 valuations. Earnings over the next 3 years (FY19-21) would be supported be the LRT3 PDP role. Nonetheless, earnings sustainability beyond this is in question. Our revised SOP valuation for GKent is based on a bear case scenario using (i) NPV (WACC: 12%) for its engineering division with nil orderbook replenishment, (ii) 10x P/E for metering assuming no YoY growth and (iii) 30% discount to its net cash per share. Under this bear case scenario, our SOP based TP is reduced from RM3.25 to RM1.50.
HSSEB and GBGAQRS is became a speculation counters , SENANG UNTUK traded. GKENT itu Tak sama, is terlibat dalam siasatan MACC sebelum ini, harga kini masih belum mengambil kira dalam scandal MACC.
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....
Peter Ng
414 posts
Posted by Peter Ng > 2018-06-29 11:09 | Report Abuse
Go buy ekcovest cheaper than 1.13