Stock Name: WCT
Company Name: WCT BHD
This year is set to be another good year for WCT Bhd, which is poised to clinch RM1.5 billion worth of new jobs, says CIMB Research.
The research house said WCT's RM1.9 billion worth of new construction job last year represented a strong recovery from 2011.
"We expect this recovery to sustain in the second half of this year, backed by RM1.5 billion worth of new jobs targeted," the research firm said in a note.
In property development, it said, the group would continue to aggressively expand is landbank, with capital commitments of RM798 million.
Besides Iskandar Malaysia in Johor, WCT was looking at new land in Penang, Kota Kinabalu and Vietnam, it said.
"Recurring income from property investment is set to expand this year, with an additional amount between RM10 million and RM20 million per annum from the gateway commercial mall at klia2," it added.
CIMB Research has upgraded its rating on WCT Bhd to "outperform" with a revised target price of RM3.03 from RM2.55 previously.-- Bernama
Company Name: WCT BHD
| Research House: CIMB | Price Call: BUY | Target Price: 3.03 |
This year is set to be another good year for WCT Bhd, which is poised to clinch RM1.5 billion worth of new jobs, says CIMB Research.
The research house said WCT's RM1.9 billion worth of new construction job last year represented a strong recovery from 2011.
"We expect this recovery to sustain in the second half of this year, backed by RM1.5 billion worth of new jobs targeted," the research firm said in a note.
In property development, it said, the group would continue to aggressively expand is landbank, with capital commitments of RM798 million.
Besides Iskandar Malaysia in Johor, WCT was looking at new land in Penang, Kota Kinabalu and Vietnam, it said.
"Recurring income from property investment is set to expand this year, with an additional amount between RM10 million and RM20 million per annum from the gateway commercial mall at klia2," it added.
CIMB Research has upgraded its rating on WCT Bhd to "outperform" with a revised target price of RM3.03 from RM2.55 previously.-- Bernama
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