Monday, August 28, 2017

FW: Affin Hwang Capital Daily Insight (LV) - 28 August 2017 - HSS / SCIC / PENB / PKS / BAB / SIME




 Investment Research






       Affin Hwang Capital Daily Insight | Monday, 28 August 2017






 KLCI Index (12-month)

 Research Team

 Chue Kwok Yan
 Head of Research | RESEARCH
    +603 2146 7618

 Alan Tan
 Chief Economist | RESEARCH
    +603 2146 7540

Top Calls


Company Update HSS Engineers (BUY, maintain)

- Positive prospects

HSS could secure more contracts like ECRL, Pan Borneo and HSR with its tender book of RM250-300m. We tweaked our FY17E earnings to reflect better timing in securing new contracts and progress billing on its existing order book of RM358m. We upgrade our TP for HSS to RM1.34, giving potential upside of 20% (based on 2018E PER of 17x). Share price has reacted positively to the Securities Commission and Bursa Malaysia
s recent approval of HSS listing transfer to Main Board. HSS remains our top small-cap top BUY among construction stocks.




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