Stock Name: FAJAR
Company Name: FAJARBARU BUILDER GRP BHD
RHB Research upgraded Fajarbaru Builder Group Bhd to
'outperform' with a higher fair value of RM1.10 per share following the latter's fifth key construction contract win this fiscal year ending June 30, 2012 (FY2012).
The broker raised Fajarbaru's FY2013-2014 net profit forecasts by 11-15 per cent, having reflected 668 million new jobs in FY2012 as compared with 368 million a year earlier.
"Fajarbaru's valuations have become attractive after the latest earnings upgrade," RHB said in a research note today.
The company announced on Thursday it secured a 299.8 million contract to construct and commission the depot and power substation for the Malaysia's Ampang light rail transit extension project.
By 9.27am, Fajarbaru's shares climbed 0.53 per cent, outperforming the Malaysia's benchmark stock index that rose 0.22 per cent. - Reuters
Company Name: FAJARBARU BUILDER GRP BHD
| Research House: RHB | Price Call: BUY | Target Price: 1.10 |
RHB Research upgraded Fajarbaru Builder Group Bhd to
'outperform' with a higher fair value of RM1.10 per share following the latter's fifth key construction contract win this fiscal year ending June 30, 2012 (FY2012).
The broker raised Fajarbaru's FY2013-2014 net profit forecasts by 11-15 per cent, having reflected 668 million new jobs in FY2012 as compared with 368 million a year earlier.
"Fajarbaru's valuations have become attractive after the latest earnings upgrade," RHB said in a research note today.
The company announced on Thursday it secured a 299.8 million contract to construct and commission the depot and power substation for the Malaysia's Ampang light rail transit extension project.
By 9.27am, Fajarbaru's shares climbed 0.53 per cent, outperforming the Malaysia's benchmark stock index that rose 0.22 per cent. - Reuters
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