Sabah expansion -Gabungan AQRS is a potential beneficiary of the revival of the Pan Borneo Highway (PBH) Sabah project as it has submitted tenders previously for 4 packages together with its joint-venture (JV) partner Suria Capital -High unbilled property sales of RM244.5m and remaining construction order book of RM1.4bn should support strong earnings growth in 2021-23E -We lift core EPS by 5% in 2021-22E to reflect higher progress billings and better profit margin for ongoing projects. We reiterate our BUY call with a higher RM0.81 target price, based on 20% discount to RNAV Good prospects to secure PBH Sabah packages
AQRS-Suria Capital JV submitted tenders for PBH Sabah packages in 2017. But the roll-out of new packages for PBH Sabah was delayed due to the previous changes in government. We expect the implementation of the project to accelerate with the appointment of HSS Engineers as the Project Management Consultant (PMC) for PBH Sabah Phase 1 on 22 April 2021. We gather that potential new contract wins is RM0.5-1.0bn from this project if AQRS secures several packages for the PBH Sabah project. In addition, AQRS is targeting new contract wins of RM400m from other projects to lift its current order book of RM1.4bn.
From AR:- currently, we are in discussions for two new property development joint-ventures, with a combined GDV of RM400 million. These new projects are targeted to be finalised in the fourth-quarter of 2021 and first-quarter of 2022 respectively.
kyy_superinvestor You will regret...unless you follow me buy whitehorse
Whitehorse never record profit since 2018.. Unless they plan to speculate the counter. But I don't trust speculation.. Can go up fast and also can collapse easily..
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....
Fundamentaler
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Posted by Fundamentaler > 2021-04-15 09:33 | Report Abuse
Yalor.. private placement aquired by boss.. if outside investor maybe different story..