Stock Name: MUHIBAH
Company Name: MUHIBBAH ENGINEERING (M) BHD
Company Name: MUHIBBAH ENGINEERING (M) BHD
| Research House: MIDF | Price Call: BUY | Target Price: 2.73 |
Showing posts with label MUHIBAH. Show all posts
Showing posts with label MUHIBAH. Show all posts
June 22, 2015
February 6, 2015
Awarded RM116m subcontract for RAPID project
Stock Name: MUHIBAH
Company Name: MUHIBBAH ENGINEERING (M) BHD
Company Name: MUHIBBAH ENGINEERING (M) BHD
| Research House: MIDF | Price Call: BUY | Target Price: 2.74 |
December 18, 2014
Constructing into prosperity
Stock Name: MUHIBAH
Company Name: MUHIBBAH ENGINEERING (M) BHD
Company Name: MUHIBBAH ENGINEERING (M) BHD
| Research House: MIDF | Price Call: BUY | Target Price: 2.74 |
April 4, 2012
Stock Overview -MUHIBAH- 4 April 2012
Stock Name: MUHIBAH
Company Name: MUHIBBAH ENGINEERING (M) BHD
Company Name: MUHIBBAH ENGINEERING (M) BHD
| Research House: JUPITER | Price Call: BUY | Target Price: 1.52 |
| MUHIBAH ( 5703 : 1.35 ) : Targeting 1.53 Description Infrastructure Resistance : 1.54 Support : 1.22 RSI of 57 RSI is on a spike-up STOCHASTIC It is on an upswing TREND INDICATOR Comment The current rebound is retesting the Double top of 1.53. Stop loss should be placed at 1.22 Trading Strategy Buy. Stop loss is at 1.22 Source:Jupiter Securities Research 04 April 2012 |
March 1, 2012
Muhibbah Engineering - A leap year
Stock Name: MUHIBAH
Company Name: MUHIBBAH ENGINEERING (M) BHD
Company Name: MUHIBBAH ENGINEERING (M) BHD
| Research House: CIMB | Price Call: BUY | Target Price: 1.60 |
Target RM1.60
Muhibbah's FY11 core earnings missed expectations despite surging 86%. But the earnings miss is not a worry as new jobs secured should drive construction EBIT margin higher in FY12 while cranes, shipyard and concessions stay the key drivers.
October 3, 2011
Bags PSV contract for Tanjong...
Stock Name: MUHIBAH
Company Name: MUHIBBAH ENGINEERING (M) BHD
Company Name: MUHIBBAH ENGINEERING (M) BHD
| Research House: KENANGA | Price Call: HOLD | Target Price: 1.50 |
August 10, 2011
CIMB Research maintains trading Buy on Muhibbah
Stock Name: MUHIBAH
Company Name: MUHIBBAH ENGINEERING (M) BHD
KUALA LUMPUR: CIMB Equities Research is maintaining its earnings per share (EPS) forecast, trading buy stance and RM1.83 target price for Muhibbah Engineering Bhd.
It said on Wednesday, Aug 10 the target price was pegged to an unchanged 40% realised net asset value (RNQAV) discount.
'Our checks with Muhibbah confirmed yesterday's news on the lifting of Asian Petroleum Hub's (APH) receivership status. This was a positive surprise to us and a huge relief to its contractor, Muhibbah as it increases the odds of recovery of the RM371 million owed by APH and suggests that there may be a resolution soon.
'This news comes at an opportune time as Muhibbah is a bottom-fishing candidate since it is trading below our worst-case value of RM1.28. We should see some clawing back of its share price which has been a casualty not just of the global stockmarket rout but also the APH problems,' it said.
Company Name: MUHIBBAH ENGINEERING (M) BHD
| Research House: CIMB | Price Call: BUY | Target Price: 1.83 |
KUALA LUMPUR: CIMB Equities Research is maintaining its earnings per share (EPS) forecast, trading buy stance and RM1.83 target price for Muhibbah Engineering Bhd.
It said on Wednesday, Aug 10 the target price was pegged to an unchanged 40% realised net asset value (RNQAV) discount.
'Our checks with Muhibbah confirmed yesterday's news on the lifting of Asian Petroleum Hub's (APH) receivership status. This was a positive surprise to us and a huge relief to its contractor, Muhibbah as it increases the odds of recovery of the RM371 million owed by APH and suggests that there may be a resolution soon.
'This news comes at an opportune time as Muhibbah is a bottom-fishing candidate since it is trading below our worst-case value of RM1.28. We should see some clawing back of its share price which has been a casualty not just of the global stockmarket rout but also the APH problems,' it said.
July 22, 2011
CIMB Research lowers Muhibbah TP to RM1.83
Stock Name: MUHIBAH
Company Name: MUHIBBAH ENGINEERING (M) BHD
KUALA LUMPUR: CIMB Equities Research said Muhibbah Engineering Bhd's prospects straddle both the CONSTRUCTION [] and oil & gas sectors, backed by execution of the ETP.
It said on Friday, July 22 the group is a strong contender for large-scale jobs such as MRT and highways while its expertise in marine/port infrastructure gives it an added advantage in the oil & gas space.
'But uncertainty over the APH receivership issue continues to overhang the stock. Although it may be resolved satisfactorily, it is likely to dent sentiment in the medium term.
'We, therefore, raise our RNAV discount from 10% to 40%, which is broadly in line with the discount applied to our small- to mid-cap stocks. This cuts our target price from RM2.75 to RM1.83,' it said.
CIMB Research maintained its EPS forecasts and TRADING BUY call. Potential re-rating catalysts include (i) project wins, and (ii) resolution to APH.
Company Name: MUHIBBAH ENGINEERING (M) BHD
| Research House: CIMB | Price Call: TRADING BUY | Target Price: 1.83 |
KUALA LUMPUR: CIMB Equities Research said Muhibbah Engineering Bhd's prospects straddle both the CONSTRUCTION [] and oil & gas sectors, backed by execution of the ETP.
It said on Friday, July 22 the group is a strong contender for large-scale jobs such as MRT and highways while its expertise in marine/port infrastructure gives it an added advantage in the oil & gas space.
'But uncertainty over the APH receivership issue continues to overhang the stock. Although it may be resolved satisfactorily, it is likely to dent sentiment in the medium term.
'We, therefore, raise our RNAV discount from 10% to 40%, which is broadly in line with the discount applied to our small- to mid-cap stocks. This cuts our target price from RM2.75 to RM1.83,' it said.
CIMB Research maintained its EPS forecasts and TRADING BUY call. Potential re-rating catalysts include (i) project wins, and (ii) resolution to APH.
June 17, 2011
MUHIBAH - Muhibbah active, up in early trade
Stock Name: MUHIBAH
Company Name: MUHIBBAH ENGINEERING (M) BHD
Research House: CIMB
KUALA LUMPUR: Shares of Muhibbah Engineering Bhd were actively traded and rose on Friday, June 17 after having been sold down a day earlier following concerns that Asia Petroleum Hub (APH) -- which it undertook a project for -- faced receivership.
At 9.15am, Muhibbah was up one sen to RM1.53 with 3.02 million shares done. Its subsidiary Favelle Favco gained three sen to RM1.64.
Muhibbah suffered the steepest single day fall yesterday since Jan 14, 1998 in a knee-jerk reaction to the possibility that APH was facing receivership. The stock fell 20% or 38 sen to RM1.52 with 45.7 million shares done.
Some analysts viewed the selling yesterday as overdone and the worst-case scenario for Muhibbah was a write-down of the RM300 million due from APH, which would push Muhibbah into losses for FY11.
APH, the developer and operator of the APH oil terminal in Johor, faced the prospects of receivership, news reports said. Muhibbah was awarded the marine piling and jetty works worth RM820 million. Cost escalation in 2008 led to funding issues for APH and the stalling of payments due to Muhibbah.
CIMB Equities Research had said the unpaid amount accumulated to about RM300 million, which did not include RM187 million worth of outstanding works as at end-2010. It said the project was still deemed viable and the worst-case scenario for Muhibbah was a write-down of the RM300 million due from APH, which would push Muhibbah into losses for FY11.
'However, we believe that in a scenario where the receiver takes over management of APH, it may come up with a scheme to repay a large portion of the amount due to contractors, which would reduce the risk of a huge write-down,' it said.
''
Company Name: MUHIBBAH ENGINEERING (M) BHD
Research House: CIMB
KUALA LUMPUR: Shares of Muhibbah Engineering Bhd were actively traded and rose on Friday, June 17 after having been sold down a day earlier following concerns that Asia Petroleum Hub (APH) -- which it undertook a project for -- faced receivership.
At 9.15am, Muhibbah was up one sen to RM1.53 with 3.02 million shares done. Its subsidiary Favelle Favco gained three sen to RM1.64.
Muhibbah suffered the steepest single day fall yesterday since Jan 14, 1998 in a knee-jerk reaction to the possibility that APH was facing receivership. The stock fell 20% or 38 sen to RM1.52 with 45.7 million shares done.
Some analysts viewed the selling yesterday as overdone and the worst-case scenario for Muhibbah was a write-down of the RM300 million due from APH, which would push Muhibbah into losses for FY11.
APH, the developer and operator of the APH oil terminal in Johor, faced the prospects of receivership, news reports said. Muhibbah was awarded the marine piling and jetty works worth RM820 million. Cost escalation in 2008 led to funding issues for APH and the stalling of payments due to Muhibbah.
CIMB Equities Research had said the unpaid amount accumulated to about RM300 million, which did not include RM187 million worth of outstanding works as at end-2010. It said the project was still deemed viable and the worst-case scenario for Muhibbah was a write-down of the RM300 million due from APH, which would push Muhibbah into losses for FY11.
'However, we believe that in a scenario where the receiver takes over management of APH, it may come up with a scheme to repay a large portion of the amount due to contractors, which would reduce the risk of a huge write-down,' it said.
''
June 16, 2011
MUHIBAH - Muhibbah dn after Asia Petroleum Hub falls into receivership
Stock Name: MUHIBAH
Company Name: MUHIBBAH ENGINEERING (M) BHD
Research House: CIMB
KUALA LUMPUR: Shares of Muhibbah Engineering Bhd fell in early trade on Thursday, June 16 after Asia Petroleum Hub (APH), the developer and operator of the APH oil terminal in Johor, was placed under receivership.
As one of the contractors for APH, Muhibbah was awarded the marine piling and jetty works worth RM820 million.
At 9.27am, Muhibbah was down six sen to RM1.84 with 2.50 million shares done.
The FBM KLCI fell 2.59 points to 1,553.60. Turnover was 81.31 million shares valued at RM75.08 million. There were 54 gainers, 187 losers and 154 stocks unchanged.
CIMB Research said the receivership status for the APH project was a negative surprise. However, it should not be a major concern at this juncture as APH is likely to negotiate for more time to resolve the matter and rope in a new investor.
'The worst-case scenario for Muhibbah is a write-down of the RM300 million due from APH, which would push Muhibbah into losses for FY11. However, there is no impact on RNAV as the amount is reflected as liabilities.
'As we view a write-down as remote at this juncture, we maintain our forecasts and RM2.75 target price, which is pegged to an unchanged 10% discount to RNAV,' it said.
Company Name: MUHIBBAH ENGINEERING (M) BHD
Research House: CIMB
KUALA LUMPUR: Shares of Muhibbah Engineering Bhd fell in early trade on Thursday, June 16 after Asia Petroleum Hub (APH), the developer and operator of the APH oil terminal in Johor, was placed under receivership.
As one of the contractors for APH, Muhibbah was awarded the marine piling and jetty works worth RM820 million.
At 9.27am, Muhibbah was down six sen to RM1.84 with 2.50 million shares done.
The FBM KLCI fell 2.59 points to 1,553.60. Turnover was 81.31 million shares valued at RM75.08 million. There were 54 gainers, 187 losers and 154 stocks unchanged.
CIMB Research said the receivership status for the APH project was a negative surprise. However, it should not be a major concern at this juncture as APH is likely to negotiate for more time to resolve the matter and rope in a new investor.
'The worst-case scenario for Muhibbah is a write-down of the RM300 million due from APH, which would push Muhibbah into losses for FY11. However, there is no impact on RNAV as the amount is reflected as liabilities.
'As we view a write-down as remote at this juncture, we maintain our forecasts and RM2.75 target price, which is pegged to an unchanged 10% discount to RNAV,' it said.
Subscribe to:
Posts (Atom)