Ikhmas --- good proxy to the booming local construction sector.
Ikhmas to register strong growth in FY17, given the low base effect, strong outstanding order book and as some of its construction projects accelerate.
AmResearch project earnings of Ikhmas to contract by -43.6% in FY16F, but more than double by +115.0% in FY17F from a low base.
FY17F earnings forecast is highly achievable, backed by an outstanding orderbook of RM590mil. YTD, its job wins stand at RM438mil.
Ikhmas Jaya gets RM58m job from TTDI KL Metropolis
PETALING JAYA: Ikhmas Jaya Group Bhd has clinched a contract worth RM57.9 million from TTDI KL Metropolis Sdn Bhd for earthworks, piling and and substructure works for a proposed 59-storey development at Mukim Batu, Kuala Lumpur.
In a filing with Bursa Malaysia last Friday, the piling and engineering specialist said the project will have no effect on its earnings and net assets for the financial year ending Dec 31, 2016 (FY16), but is expected to contribute positively for FY17.
The group said the duration of the project includes eight months for works of the serviced apartment foundation/pilecaps/lowest slab, which is expected to be completed by July 17, 2017.
“Fifteen months for all other works and the expected date of completion shall be Feb 17, 2018,” it added.
OTHERS IKHMAS JAYA GROUP BERHAD ("IKHMAS") - LETTER OF AWARD FROM SYMPHONY CRESCENT SDN. BHD.
IKHMAS JAYA GROUP BERHAD
Type Announcement Subject OTHERS Description IKHMAS JAYA GROUP BERHAD ("IKHMAS") - LETTER OF AWARD FROM SYMPHONY CRESCENT SDN. BHD. 1. Introduction
IKHMAS is pleased to announce that its wholly-owned subsidiary, Ikhmas Jaya Sdn. Bhd. has today agreed and accepted the terms and conditions of the Letter of Award from Symphony Crescent Sdn. Bhd., to undertake the construction and completion of piling and substructure work for “Cadangan membina dan menyiapkan 2 Blok Bangunan Perdagangan yang mengandungi 1) Block A : 42 tingkat dengan; a) 34 tingkat SOHO (626 unit) b) 1 tingkat (Tingkat 42) Kemudahan Awam dan Mekanikal (Gimnasium, Arked Permainan, Taman Atas Bumbung) c) 6 tingkat Podium (Tempat Letak Kereta) d) 1 tingkat (Tingkat 7) Kemudahan Awam dan Kedai Mampu Milik (Kolam Renang, Surau, Bilik Persalinan, Dewan Serbaguna) 2) Block B: 2 tingkat Ruang Perniagaan (Petak Tanah) 3) 1 unit Rumah Sampah 4) 1 unit Pondok Pengawal di atas PT 363, Jalan PJS 9/1, Bandar Sunway, Mukim Damansara, Daerah Petaling, Selangor Darul Ehsan" (“the Project”) for Symphony Crescent Sdn. Bhd.
2. The Contract Value
The contract value of the Project is RM37,738,000.00 (Ringgit Malaysia Thirty Seven Million Seven Hundred Thirty Eight Thousand only) exclusive of 6% Goods and Services Tax.
3. The Duration of the Project
The contract work is for a period of 15.5 months and is expected to commence on 3 January 2017 and complete by 16 April 2018.
4. The effect on Net Assets and Earnings of the Group
The abovementioned Project is expected to contribute positively to IKHMAS’s earnings and net assets for the financial year ending 31 December 2017.
5. Directors’ and Major Shareholders’ Interest
None of the Directors or Major Shareholders or persons connected to the Directors or Major Shareholders of the Company has any direct or indirect interest in the Project.
This announcement is dated 4 January 2017.
Announcement Info Company Name IKHMAS JAYA GROUP BERHAD Stock Name IKHMAS Date Announced 04 Jan 2017 Category General Announcement for PLC Reference Number GA1-04012017-00019
Rarely leave comment in i3. I aim for this stock quiet long time ago. bcs my funding is stil stuck in other counter,i unable to load in this stock.
Pls go and check their contract/project. U will found different view. Sumore recently construction field is getting more request by developer compare to last year.
If u are mid-long term player. No doubt. Within 2years will bring u fly like econbhd. Econ vs ptaras vs ikhmas vs kerjaya
Low entry compare to other counter.
Lets say all company is start frm zero. No fundamental. Go list down all the project they hv now. And coming few years. Then compare to their contract book value. Revenue cost. And the entry lvl price for each counter. 0.6x++ is really attractive.
Pls dont fly before i able to load in. Gudluck guys
Came in today at RM0.57! I do think there is lots of potential for upsides with Ikhmas (relative to its direct competitors on Bursa, Econpile and Pintaras). Will be pretty happy to see it hit RM0.75-RM0.80 during the year, backed by good profit growth.
You are right @nikicheong.ALL the Technical Price Charts showed bearishness for the stock presently.The stochastic price chart also trends downwards.The RSI showed the stock is oversold.No sign of price reversal upwards any time soon.
2.Be wary of the FOMC meeting on 14 and 15 March where the Federal Reserve Bank,USA will contemplate seriously to increase the monetary rate.Global wide stock markets reacted negatively to such expectations today.
Be an informed investor.So that you did not over expose your investment to unexpected risks.Cheers,and have a happy weekend.
gcke, I don't invest using technical indicators. I invest using fundamentals. What are you trying to say? That the stock will keep going down (i.e. bad time to buy)? Either way I don't care about short term losses, this one I will hold for a while.
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....
Rica7894
165 posts
Posted by Rica7894 > 2016-11-23 09:16 | Report Abuse
Ikhmas --- good proxy to the booming local construction sector.
Ikhmas to register strong growth in FY17, given the low base effect, strong outstanding order book and as some of its construction projects accelerate.
AmResearch project earnings of Ikhmas to contract by -43.6% in FY16F, but more than double by +115.0% in FY17F from a low base.
FY17F earnings forecast is highly achievable, backed by an outstanding orderbook of RM590mil. YTD, its job wins stand at RM438mil.