Stock Name: PERWAJA
Company Name: PERWAJA HOLDINGS BERHAD
Perwaja Holdings Bhd will yield lucrative income if it obtains an iron ore mining concession in Bukit Besi, Dungun, considering the significant material cost savings it could accrue compared with importing the raw material from overseas.
OSK Research, in a research note, today said iron ore was currently
imported at a cost of over US$160 per tonne, free-on-board, against local cost
of mining which would amount to less than US$50 per tonne.
On Saturday, Terengganu Menteri Besar Datuk Seri Ahmad Said disclosed the
findings of a study which revealed that there were approximately 50 million
tonnes of high-grade iron ore deposits in the area.
Against this backdrop, OSK is upgrading its rating on the company to "Buy"
from "Trading Buy", currently, and has raised the fair value to RM1.82, from
RM1.40, previously. -- Bernama
Company Name: PERWAJA HOLDINGS BERHAD
| Research House: OSK | Price Call: BUY | Target Price: 1.82 |
Perwaja Holdings Bhd will yield lucrative income if it obtains an iron ore mining concession in Bukit Besi, Dungun, considering the significant material cost savings it could accrue compared with importing the raw material from overseas.
OSK Research, in a research note, today said iron ore was currently
imported at a cost of over US$160 per tonne, free-on-board, against local cost
of mining which would amount to less than US$50 per tonne.
On Saturday, Terengganu Menteri Besar Datuk Seri Ahmad Said disclosed the
findings of a study which revealed that there were approximately 50 million
tonnes of high-grade iron ore deposits in the area.
Against this backdrop, OSK is upgrading its rating on the company to "Buy"
from "Trading Buy", currently, and has raised the fair value to RM1.82, from
RM1.40, previously. -- Bernama
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