Stock Name: MRCB
Company Name: MALAYSIAN RESOURCES CORP
Stock Name: MRCB
Company Name: MALAYSIAN RESOURCES CORP
Malaysian Resources Corporation Bhd's (MRCB) earnings from next year onwards is expected to be spurred by the RM1.33 billion contract for the Light Rail Transit (LRT) Ampang line extension project.
Kenanga Research estimates MRCB's revenue to jump to RM1.164 billion this year and RM1.641 billion next year from the RM1.067 billion in 2010.
Similarly, the pre-tax profit will rise to RM94.6 million and RM181.3 million in 2011 and 2012 respectively, compared to the RM67.3 million posted last year.
"We have tweaked our financial year 2012 earnings by 35 per cent as we have imputed in higher construction earnings, attributable to the newly secured LRT contract and RM500 million potential new contract next year," the research house said.
MRCB, it said, will remain as the main beneficiary of the highly anticipated construction sector run-up in the fourth quarter of 2011 onwards.
MIDF also raised its earnings forecast for MRCB by seven per cent and 29 per cent in the current financial year and 2012, respectively.
It also made a "buy call for MRCB shared with a target price of RM2.66, while Kenanga kept the share as "outperform" with a higher target price of RM3.44.
At 11am, MRCB shares were up four sen to RM2.33. -- Bernama
Company Name: MALAYSIAN RESOURCES CORP
| Research House: KENANGA | Price Call: BUY | Target Price: 3.44 |
Stock Name: MRCB
Company Name: MALAYSIAN RESOURCES CORP
| Research House: MIDF | Price Call: BUY | Target Price: 2.66 |
Malaysian Resources Corporation Bhd's (MRCB) earnings from next year onwards is expected to be spurred by the RM1.33 billion contract for the Light Rail Transit (LRT) Ampang line extension project.
Kenanga Research estimates MRCB's revenue to jump to RM1.164 billion this year and RM1.641 billion next year from the RM1.067 billion in 2010.
Similarly, the pre-tax profit will rise to RM94.6 million and RM181.3 million in 2011 and 2012 respectively, compared to the RM67.3 million posted last year.
"We have tweaked our financial year 2012 earnings by 35 per cent as we have imputed in higher construction earnings, attributable to the newly secured LRT contract and RM500 million potential new contract next year," the research house said.
MRCB, it said, will remain as the main beneficiary of the highly anticipated construction sector run-up in the fourth quarter of 2011 onwards.
MIDF also raised its earnings forecast for MRCB by seven per cent and 29 per cent in the current financial year and 2012, respectively.
It also made a "buy call for MRCB shared with a target price of RM2.66, while Kenanga kept the share as "outperform" with a higher target price of RM3.44.
At 11am, MRCB shares were up four sen to RM2.33. -- Bernama
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