Stock Name: SUNWAY
Company Name: SUNWAY HOLDINGS BHD
Research House: ECMLIBRA
The recommendation was premised on strong earnings growth of 20.7 per cent in the financial year 2011, plans for more landbank acquisitions, strength in securing overseas construction contracts and re-rating from the merger with Sunway City Bhd, ECM Libra Investment said in a research note today.
"With a strong brand name, we think the group is poised to benefit from the impending roll out of contracts in 2011 both from the Ninth Malaysia Plan as well as the Mass Rail Transit (MRT) project."
Apart from the tunneling portion, civil works for the MRT project would only be open to local contractors, it said.
It added that the completion of the merger exercise with Sunway City in mid this year could assist the group participate in larger scale projects. - BERNAMA
Company Name: SUNWAY HOLDINGS BHD
Research House: ECMLIBRA
KUALA LUMPUR: ECM Libra Investment Research has maintained a "buy" call on Sunway Holdings Bhd with its target price remaining at RM2.60.
The recommendation was premised on strong earnings growth of 20.7 per cent in the financial year 2011, plans for more landbank acquisitions, strength in securing overseas construction contracts and re-rating from the merger with Sunway City Bhd, ECM Libra Investment said in a research note today.
"With a strong brand name, we think the group is poised to benefit from the impending roll out of contracts in 2011 both from the Ninth Malaysia Plan as well as the Mass Rail Transit (MRT) project."
Apart from the tunneling portion, civil works for the MRT project would only be open to local contractors, it said.
It added that the completion of the merger exercise with Sunway City in mid this year could assist the group participate in larger scale projects. - BERNAMA
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