“The best is yet to come,” notes Kenanga Research on the construction sector, owing to the anticipated roll-out of mega public infrastructure projects and the sector’s promising margin recovery
The construction sector is expected to continue thriving as robust order books provide strong visibility for builders for the coming two to three years, according to TA Research
price movement wise, if sustaining well and above 17.... should be good for this counter.... range play should be 17-24.... quite standard for this counter..... don't think is a good choice to hold for 2-3 years.... this counter is more of short term play......
The project, awarded by Grand Dynamic Builders Sdn Bhd, is scheduled to commence on July 17 and is expected to be completed on March 1, 2025. It involves the construction of a new logistics centre for Strategic Sonata Sdn Bhd.
Malaysian construction stocks surged on Wednesday to their highest in more than six years, as investors bet that contract awards will pick up, spurred by public infrastructure and private projects. Just a matter of time for Aneka to soar
Note 1: In 2Q24, the Group generated revenue of RM54.22 million, representing an increase of RM11.24 million compared to the preceding year's quarter ended 28 February 2023 (2Q23), during which the Group registered revenue of RM42.98 million. The Group saw its gross profit improve by RM4.32 million, achieving a gross profit of RM4.72 million compared to the gross profit of RM0.40 million in 2Q23. Additionally, the Group generated other income of RM0.33 million in 2Q24. This amount comprised a debt recovery totalling RM0.22 million, with the remainder derived from interest income and rental of premises. The Group incurred total administrative expenses of RM3.32 million. Regarding financing costs, the Group incurred a total of RM0.94 million in 2Q24. The Group's total tax expenses stood at RM0.24 million, solely incurred by the Group's Indonesian subsidiary, PT Aneka Jaringan Indonesia (PTAJI). Finally, the Group generated a profit after tax of RM0.55 million for the current quarter, marking an improvement compared to the loss after tax of RM4.36 million incurred in 2Q23.
Note 2:
For 2Q24, the Group experienced a reduction in revenue of RM4.56 million, decreasing from RM58.78 million in the immediate preceding quarter ended 30 November 2023 (1Q24) to RM54.22 million. However, the Group achieved a gross profit of RM4.72 million, marking an increase of RM1.66 million compared to the gross profit of RM3.05 million in 1Q24. However, the Group's profit before tax and profit after tax decreased by RM0.74 million and RM0.84 million to RM0.79 million and RM0.55 million, respectively, in 2Q24.
Note 3: Prospects
For our construction operations, we will continue to leverage our existing order book of RM233.16 million as at 29 February 2024 and focus on the timely completion of ongoing projects. PT. Aneka Jaringan Energy (PTAJE), our renewable energy subsidiary in Indonesia had in 2Q24, secured its first engineering, procurement, construction, and commissioning (EPCC) project of RM0.48 million in value. We remain optimistic on the subsidiary’s prospects and will continue to tender for EPCC jobs to secure its foothold in Indonesia.
i m still waiting at the range of 17 as my EP.... hopefully can reach in these couples of days due to weak market sentiments.... this counter definitely has the potential to go back to 30.... current price is still high for me to go in.... no hard feeling guys....
based on the volume today i don't think is exercise of warrants. Anywhere, I think the share price very attractive.. let see this friday or next monday their Q3 report.. if very good i think below 0.2 will be historical.. because mega project going to kick in soon.. all big taikor price already shoot to the sky.. now is time for operation share to move
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....
EarnSomeBeers99
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Posted by EarnSomeBeers99 > 2024-06-26 21:20 | Report Abuse
https://www.thestar.com.my/business/business-news/2024/06/26/ijm-construction-bags-rm3317mil-iskandar-puteri-data-centre-contract