BUY, new SOP TP of MYR0.66 from MYR0.76, 35% upside, c.4% yield.
We expect a stronger FY22F earnings growth of 32%, partly driven by the revenue streams from the services segment, ie Ranhill Bersekutu and Ranhill Worley. We gathered that Ranhill Worley – together with Malaysia Marine & Heavy Engineering (MMHE MK, NEUTRAL, TP: MYR0.42) – was successful in a bid for Petronas’ parallel front-end engineering and design works for the Kasawari Phase 2 project,which should further support earnings. Potential rerating catalysts: i) Higher than-expected rate hikes for Ranhill’s Johor water operations, ii) positive outcome for its ASEAN expansion plans (ie source-to-tap water project in Indonesia), and iii) project wins related to water and renewable energy.
hope can buy low sell high lo ... how can one profit if hadn't i invest in times like this , btw if you have better info pls share ya , i ar... still accumulating , hope ok - longer term
Water tech is the future more important than money , without clean purify water Elon Musk , Jeff Bezos , Warren buffet also can not survive ! Ranhill has its moat will never die after GE 15 !
Ranhill net profit will be double to around 6x - 7x million per year after tariff hike on non domestic users ! Then sure they will resume back cash dividend !
... waiting ... did not follow up much ... too slow la ... if the cost mentioned was a one-off, then hopefully next Q at least got dividend lor ... deciding buy more ... for a dollar 1.00 sales
Ranhill Utilities Bhd’s recent contract win, via its 51%-owned subsidiary Ranhill Worley Sdn Bhd (RWSB), is expected to contribute almost RM5mil to the group’s net profit for its financial year 2023 (FY23).
Ranhill announced on Monday that it had won a 14-month contract from Sembcorp Marine Integrated Yard Pte Ltd for the engineering and detailed design of a new P-82 floating production, storage and offloading (FPSO) vessel via RWSB.
The research house also estimated that RWSB’s order book would expand to RM278mil, slightly more than its annual revenue, of which the bulk is comprised of the latest project win.
“We estimate a RM106mil revenue contribution in FY23 and another RM17mil contribution in FY24,” MIDF Research said.
From our recent visit, Ranhill expects a 4.6% impact on revenue from the hike, which is within our earlier estimates of between a 3% and 5% range,” it said.
The research house maintained its “buy” call on Ranhill with a target price of 67 sen per share.
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....
gkent2000
274 posts
Posted by gkent2000 > 2022-05-09 12:24 | Report Abuse
Walao... Too much discount....