Stock Name: MUDAJYA
Company Name: MUDAJAYA GROUP BHD
Research House: OSK
Company Name: MUDAJAYA GROUP BHD
Research House: OSK
Mudajaya Group has a strong chance of participation in the civil works portion for another 1000MW power plant worth RM5 billion, following the government's Request for Proposal (RFP) to Tanjung Bin and Jimah, says OSK Research.
It said the civil works portion is potentially worth between RM750 million to RM1,000 million.
"We are positive on domestic jobs as Mudajaya has built over 10 power plants locally.
"In India, the company had submitted three highway porposals via Build, Operate and Transfer (BOT) totalling RM3 billion, which are brownfield projects involving upgrades on existing routes," it added, in a research note today.
OSK Research also said it was maintaining a "buy" call while switching its valuation method to one based on the Sum of Parts (SOP) and has raised the target price to RM7.44.
It expects Mudajaya's fourth quarter earnings to come in at about RM50 million, stronger than in the third quarter but lower than the second (RM54.2 million).
Mudajaya will release its fourth quarter results next month.
-- BERNAMA
It said the civil works portion is potentially worth between RM750 million to RM1,000 million.
"We are positive on domestic jobs as Mudajaya has built over 10 power plants locally.
"In India, the company had submitted three highway porposals via Build, Operate and Transfer (BOT) totalling RM3 billion, which are brownfield projects involving upgrades on existing routes," it added, in a research note today.
OSK Research also said it was maintaining a "buy" call while switching its valuation method to one based on the Sum of Parts (SOP) and has raised the target price to RM7.44.
It expects Mudajaya's fourth quarter earnings to come in at about RM50 million, stronger than in the third quarter but lower than the second (RM54.2 million).
Mudajaya will release its fourth quarter results next month.
-- BERNAMA
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