2noob2stupid normally both warrent n mother will move together to any direction i.e up or down...if only either one move potentially just ripple in the cup....
AZRB has be consolidating in a statured tight range building base blah blah blah blah for quite some time now, tension has got to be released, and it will be released soon in an earth shaking manner
We maintain our BUY call, forecasts and MYR0.96 FV. This follows the award of the MYR994m Langat 2 water treatment plant contract to a consortium which comprises Ahmad Zaki. The latest job win is in line with our assumption. Ahmad Zaki is a good small-cap proxy to public infrastructure spending. We also like the company for its concession assets and oil palm plantations in Indonesia.
• First key contract win in FY14. A 36:34:30 JV between Salcon (SALC MK, NR), MMC Corporation (MMC MK, NR) and Ahmad Zaki has secured a MYR994m contract for the construction of the 1,130m millionlitre-per-day (MLD) Langat 2 water treatment plant. Assuming the job is apportioned in accordance with the stake in the JV, Ahmad Zaki’s share will be MYR298m. This is the first key contract the company has secured in FY14, boosting its outstanding construction orderbook by 15% to MYR2.2bn (see Figure 1) from MYR1.9bn. Assuming an EBIT margin of 10%, the contract will fetch MYR29.8m EBIT over a 3-year contract period starting this month. We are positive on the latest development.
• Forecasts. We maintain our forecasts as we have assumed Ahmad Zaki to secure MYR500m worth of new contracts in FY14.
• Maintain BUY. Ahmad Zaki is a good small-cap proxy to public infrastructure spending given its involvement in the construction of the Klang Valley MRT project and various government facilities. Its current outstanding construction orderbook of MYR2.2bn (that can last the company for 2-3 years) will surge by 69% to MYR3.7bn when the MYR1.55bn East Klang Valley Expressway (EKVE) breaks ground over the immediate term. We also like Ahmad Zaki for its stable of concession assets comprising: i) a highly profitable bunkering operation at the Kemaman Supply Base (KSB) in Terengganu, ii) a teaching hospital at the International Islamic University of Malaysia (IIUM), which is currently under construction and about 26% completed, and iii) the EKVE under planning. In addition, there is tremendous value in its 21,000ha oil palm plantations (23% planted) in West Kalimantan, Indonesia.
We keep our FV unchanged at MYR0.96, based on SOP valuation
actually i want to dispose but the chart shows temptation, we are at the bull flag.. perhaps i wait another week, see if it break the bull flag... too nice but just wait for the big brothers... perhaps after WC...
Dont listen to RHB research very lousy. They said 0.96 if azrb up to 0.85 quickly run. Few months ago b4 right issue TP 1.45. It did went up but highest only reach 1.14. We are better than the analyst. They want us the small fish die
its around the bullish area.. but waiting for volume.. but human psycho issues as many fish stuck.. will have corrections when it up a bit as everyone try to free themself
haha.. very funny video.. good laugh after tense.... but this songs very famous some time ago.. especially on international organization such as AIESEC :)
For 2H2014..... Kenanga IB has an “overweight” rating on the building material, construction, gaming, gloves, Malaysia real estate investment trust, plantations, power utility, water utility, and transport and logistics sectors.
@Ah Moi: you saw it is good? its very bad but support around 0.70... my bad is not going down but we are stuck at a point of high resistance (draw the lines)
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....
liangchai
94 posts
Posted by liangchai > 2014-07-07 15:41 | Report Abuse
u no understanding mah. I tell many time d. limit down can not go down d. but go up mah