BPURI (5932) : TA Securities maintains Buy on Bina Puri, target price 73.5 sen
KUALA LUMPUR (Dec 24): TA Securities Research has maintained its “Buy” rating on Bina Puri Holdings Bhd at 53.5 sen with an unchanged target prife of 73.5 sen after Bina Puri accepted the letter of award from the Sabah Public Works Department to undertake upgrading works for the proposed Sabah State Administrative Centre in Kota Kinabalu, Sabah.
In a note Dec 23, the research house said this was the fifth construction job win for Bina Puri in 2014, bringing the total amount of construction work secured year to date to RM759.6 million, and maintaining its outstanding order book at about RM2.0 billion.
“Assuming a profit before tax margin of 3%, the project is expected to contribute RM1.0 million of net profit or 0.6 sen per share in 2015.
“No change to our earnings forecasts as the job win is within our order book replenishment assumptions of RM800 million for FY14,” it said.
http://www.theedgemarkets.com
KUALA LUMPUR (Dec 24): TA Securities Research has maintained its “Buy” rating on Bina Puri Holdings Bhd at 53.5 sen with an unchanged target prife of 73.5 sen after Bina Puri accepted the letter of award from the Sabah Public Works Department to undertake upgrading works for the proposed Sabah State Administrative Centre in Kota Kinabalu, Sabah.
In a note Dec 23, the research house said this was the fifth construction job win for Bina Puri in 2014, bringing the total amount of construction work secured year to date to RM759.6 million, and maintaining its outstanding order book at about RM2.0 billion.
“Assuming a profit before tax margin of 3%, the project is expected to contribute RM1.0 million of net profit or 0.6 sen per share in 2015.
“No change to our earnings forecasts as the job win is within our order book replenishment assumptions of RM800 million for FY14,” it said.
http://www.theedgemarkets.com
