Stock Name: SENDAI
Company Name: EVERSENDAI CORPORATION BERHAD
Hong Leong Investment Bank Research started coverage on Malaysian construction company Eversendai Corporation with a buy call and target price of RM2.00, citing a positive outlook after its contract wins in India and the Middle East.
"We like Eversendai for its technical expertise as a structural steel player, benefitting from involvement in the initial stages of engineering and design works to the final installation phase," said Low Yee Huap in a research note today.
"This avoids technical disputes and at the same time provide competitive advantage," the broker added.
Hong Leong said Eversendai is tendering for RM12 billion (US$3.92 billion) worth of contracts and is seeking accreditation to undertake oil and gas structural steel works. -- Reuters
Company Name: EVERSENDAI CORPORATION BERHAD
| Research House: HLG | Price Call: BUY | Target Price: 2.00 |
Hong Leong Investment Bank Research started coverage on Malaysian construction company Eversendai Corporation with a buy call and target price of RM2.00, citing a positive outlook after its contract wins in India and the Middle East.
"We like Eversendai for its technical expertise as a structural steel player, benefitting from involvement in the initial stages of engineering and design works to the final installation phase," said Low Yee Huap in a research note today.
"This avoids technical disputes and at the same time provide competitive advantage," the broker added.
Hong Leong said Eversendai is tendering for RM12 billion (US$3.92 billion) worth of contracts and is seeking accreditation to undertake oil and gas structural steel works. -- Reuters
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