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DATE: 05 DECEMBER 2017
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THE STOCK : ECONBHD (RM3.21)
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This stock has been called on 6th & 21th October at RM3.00 - RM3.10 range by Kim before.
Target Price (Upgraded) : RM3.50 (immediate) & RM3.80 (MTH)
Warrant : ECONBHD-CF (0.15cts) : TP more than 0.25cts +++ 'Jackpot CW'
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WHAT KIM SAY?
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"I
am foreseeing and expecting its 2018 performance to be challenging but
sustainable on the back of the continued growth expected from the piling
and foundation services in the infrastructure segment. I am also
expecting RALLY will start by this week on DEC. Dont Miss This Steady
Growth Stock!!! Good luck! " - Kim Spartan
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THE PROFILE
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Founded by
Group Managing Director Mr The Cheng Eng in 1987, Econpile is a piling
and foundation specialist in Malaysia providing piling solutions and
foundation works, which includes earth retaining systems, earthworks,
substructure and basement construction works. Econpile has a full range
of piling (bored piling, driven piles and jack-in piles) and foundation
works. Econpile serves the property development and infrastructure
sectors, having been involved in the construction of bridges, elevated
highways, electrified-double tracking projects and power plants. To
date, Econpile has successfully undertaken numerous piling and
foundation projects nationwide, including the Klang Valley, Penang,
Johor, Pahang, Sabah and Sarawak. Econpile holds a Grade 7 License from
the Construction Industry Development Board of Malaysia, which allows
the Group to tender for projects of unlimited values in the categories
of building, and infrastructure works.
Board Of Directors
-
Independent Non-Executive Chairman : Krishnan A/L CK Menon Group Managing Director : The Cheng Eng Executive Director /Group Chief Executive Director : Raymond Pang Executive Director : The Kun Ann Independent Non-Executive Director : Dato' Rosli Bin Mohamed Nor Independent Non-Executive Director : Ong Poay Wah @ Chan Poay Wah
Scope Of Services
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Foundation and Geotechnical Works
- Cast-in-situ bored piles
- Driven and jack-in piles
- Micropile
- Earth retaining system including contiguous bored pile wall, secant pile wall, soldier pile wall, diaphragm wall, steel/concrete sheet pile wall
- Lateral support system including ground anchors and steel strutting
- Slope protection and stabilization, ground improvement works
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Civil Engineering Works
- Earthwork and basement excavation
- Infrastructure
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Structure Works
- Pile cap and basement slabs
- Top-down construction
- Temporary steel platform and staging
- Bridges
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Design and build packages
- Piling, retaining system and structural works
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THE KEYNOTE
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ECONBHD - (NOV 2017) - Econpile
Holdings Bhd's net profit for its first financial quarter ended Sept
30, 2017 (1QFY18) climbed 28.9% to RM21.19 million from RM16.45 million a
year earlier, thanks to a higher revenue. The revenue jumped 48.1% to
RM168.90 million, its highest quarterly topline to-date from RM114.08
million in 1QFY17. The 1QFY18 revenue is substantially higher than the average quarterly revenue of about RM145.5 million recorded in FY17.
ECONBHD - (NOV 2017) - Econpile
(M) Sdn Bhd has received a letter of award from Gabungan Strategik Sdn
Bhd to undertake piling and general infrastructure works for the
construction and completion of the Light Rail Transit Line 3 (LRT 3)
valued at RM208.7mil. The contract, spanning from Bandar Utama to Johan
Setia under the Package GS04 Guideway, Station Park and Ride, Ancillary
Buildings and other associated works, is for the period of about 34
months. “The contract is the main stream business for Econpile and is
expected to contribute positively to the revenue and earnings of the
group for the financial year ending June 30, 2018.
ECONBHD - (OCT 2017) - They
are keeping their forecasts which assume Econpile will secure RM600
million worth of new jobs annually in FY18 to FY20. Recall that FY17 was
a bumper year for Econpile with total job wins of RM1.19 billion,
compared with RM662 million in FY16. They continue to like Econpile for
its strong earnings visibility backed by bright prospects for the
piling/foundation segment, coupled with its sizeable order backlog which
will keep it busy for the next 12 to 24 months.
ECONBHD - (OCT 2017) - Has
bagged a RM48 million contract from Malaysian Resources Corp Bhd (MRCB)
for its 9 Seputeh mixed development project at Old Klang Road. The
contract entails piling and basement works for three residential blocks,
a commercial area, and a two-storey basement car park, and represents
the group's first job to be done for MRCB
ECONBHD - (SEP 2017) - Has
secured an RM18 million contract for the Pavilion Damansara Heights
Phase 2 mixed development project. The group said its wholly-owned unit
Econpile (M) Sdn Bhd was awarded the contract to undertake contiguous
bored pile works by Jendela Mayang Sdn Bhd. The contract is for 27 weeks
and expected to be completed in April 2018. Econpile said the contract
is expected to contribute positively to its earnings for the financial
year ending June 30, 2018.
ECONBHD - (SEP 2017) - Has
proposed a share split involving one existing share into two shares to
enhance its marketability and trading liquidity. Econpile said its share
capital as at Aug 30 is RM107 million comprising 535 million shares.
Upon completion of the proposed share split, the issued share capital
will grow to 1.07 billion shares.
ECONBHD - (MAY 2017) - Posted
a record net profit for the third financial quarter ended March 31,
2017 (3QFY17), on higher billings recorded coupled with increased
overall project order book secured. Net profit rose 23.6% to RM22.11
million or 4.13 sen a share from RM17.89 million or 3.34 sen a share a
year ago, mainly derived from the piling and foundation services
business segment. Quarterly revenue grew 32.9% to RM162.28 million in
3QFY17 from RM122.07 million in 3QFY16. The also group declared a second
interim dividend of 3 sen per share for the financial year ending June
30, 2017 (FY17), payable on June 22. This brings total dividends to 4.5
sen per share amounting to RM24.1 million for the financial year.
ECONBHD - (MAY 2017) - Has
bagged a RM48.5 million contract for piling, basement and substructure
works in the first phase of a mixed development from Pembinaan Kery Sdn
Bhd. This new contract win cements their competitive advantage in
undertaking works for high-rise buildings within mixed-development
projects, which enable them to continue increasing the market share
despite the challenging property sector. The contract will boost
Econpile's order book to RM1.4 billion, with earnings visibility over
the next two to three years.
ECONBHD - (MAR 2017) - Has
been awarded a RM92.5 million subcontract to build the diaphragm wall
for the Kampung Baru North Underground Station for Sungai
Buloh-Serdang-Putrajaya line of the Klang Valley Mass Rapid Transit 2
(KVMRT2). The construction and completion of the diaphragm wall is part
of the works for the underground works package, encompassing the design,
construction and completion of tunnels, stations and associated
structures from Jalan Ipoh North Escape Shaft to Desa Waterpark South
Portal, under KVMRT2. The contract was awarded by Mujur Minat Sdn Bhd.
ECONBHD - (MAR 2017) - Has
disposed of a piece of freehold land for RM5 million to streamline its
subsidiaries’ principal activities and unlock the value of the property
through future development. The land sale by its wholly-owned unit to
another of its subsidiaries, Tropical Broadway Sdn Bhd, would see its
value unlocked through development by the latter.
ECONBHD - (FEB 2017) - Has
clinched a RM570.4mil deal from Malton Bhd’s unit Domain Resources Sdn
Bhd to carry out foundation and basement works for a mixed development
project in Pusat Bandar Damansara, Kuala Lumpur. The development, whose
name is not mentioned in the announcement but which is believed to be
Pavilion Damansara Heights, also includes a one-storey lower ground
level and eight-storey basement. It was reported that Pavilion Damansara
Heights, with a RM7bil gross development value, was expected to be
completed by 2021. Canada Pension Plan Investment Board had agreed to
invest RM485mil for a 49% interest in the joint venture with the
Pavilion group to develop the project, its first direct real estate
investment in the region.
ECONBHD - (DEC 2016) - Econpile
Holdings Bhd, along with its joint venture partner China Communications
Construction Co (M) Sdn Bhd (CCCC), has won a RM389.07 million contract
to undertake foundation, substructures and other ancillary works for
Package SUKE-CA3 of the Sungai Besi-Ulu Kelang Elevated Expressway
(SUKE) project. The contract is the main stream business of EMSB and is
expected to contribute positively to the revenue and earnings of
Econpile for the financial year ending June 30, 2017.
ECONBHD - (DEC 2016) - Piling
and foundation specialist Econpile Holdings Bhd's net profit rose 13.5%
to RM16.45 million or 3.07 sen a share in the first quarter ended Sept
30, 2016 (1QFY17) from RM14.5 million or 2.71 sen a share a year ago,
mainly driven by contribution from piling and foundation works for
property development projects.
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THE ADDITIONAL
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- MRCB project at KL RM 48mil, duration 18 months
- Pavillion Damansara Phase 2 pilling project RM 18mil, duration 27 weeks ( 6 months)
- Jalan Conlay sub structure work RM 48.5mil ( awarded on May 19th 2017 duration 15 months)
- MRT 2 diaphragm wall for the KVMRT project ( Awarded March 29th 2017 , RM 93mil, 450 Days)
- Damansara Pavillion project ( Awarded Feb 22nd 2017, RM 570mil, 28 months )
- SUKE Project ( Awarded Dec 28th 2016, RM 158.3mil, 17months)
- MRT 2 Viaduct Project ( Awarded Oct 21st 2016, RM 43.5mil, 24 months)
- Maju Project ( Awarded Oct 4th 2016, RM 280mil, 15months )
- 99, Jalan Ampang ( Awarded June 6th 2016, RM 208mil, 26 months)
- Prestij Permai Sg Buloh Project ( Awarded Apr 8th 2016, RM 53.5mil, 20 months)
- EcoMeridian Project, Penang ( Awarded March 31st 2016, RM 51.63mil, 14.5 months)
- EKVE from Ahmad Zaki ( Awarded March 3rd 2016, RM 76.9mil, 24 months)
- Mixed commercial lot from Ahmad Zaki ( Awarded Dec 31st 2015, RM 20.3mil, 8 months ---> COMPLETED JULY 2016)
- Nusmetro Persiaran Dutamas ( Awarded 24th Nov 2015, RM 95.5mil, 19 months ---> DUE TO BE COMPLETED JUNE 2017)
- WZR Properties ( Awarded on 1st Nov 2015, RM 120.5mil, 18 months, ---> TO BE COMPLETED MAY 2017)
- AZRB Jalan Sultan Ismail ( Awarded 6th June 2015, RM 49.9 mil.....COMPLETED SEPT 2016)
- Jalan Conlay ( Awarded Jan 2015, RM 128.9 Mil....COMPLETED DEC 2016)
- and a few more smaller projects worth between RM 23mil to RM 128mil , which were awarded in between June 2014 - Dec 2014th, all of them which already being completed by now.
* Source by Blogger Optimus9199 Thank you.
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THE FINANCIAL
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Regards,
Kim Stockwatch
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