Eversendai ' Lands RM158m Saudi Job

Stock Name: SENDAI
Company Name: EVERSENDAI CORPORATION BERHAD

Research House: RHB

Price Call: BUY

Target Price: 2.15

Eversendai ' Lands RM158m Saudi Job                                                                               Outperform

News Update

-          Eversendai has been awarded by Saudi Binladin Group structural steel works worth RM158m for the railway station of the King Abdul-Aziz International Airport project in Jeddah , Saudi Arabia . 

-          Forecasts are maintained as we have already assumed in our forecasts Eversendai to secure RM1.5bn worth of new jobs in FY12/12. Maintain Outperform.  Fair value is RM2.15.

Source: RHB Research - 16 April 2012