Fwd: AmBank Research - Ekovest: Key beneficiary of River of Life project BUY, 14 Mar 2018

STOCK FOCUS OF THE DAY

Ekovest: Key beneficiary of River of Life project                                BUY

 

We maintain our BUY call, forecasts and FV of RM1.35, which is at a 25% discount to our SOP valuation of RM1.80. The recent award to Ekovest of a RM100mil River of Life (RoL) work package solidifies our view that Ekovest is the key beneficiary of this Pemandu-driven initiative. All-in, Ekovest has now secured four out of total five work packages rolled out from this project.

 

We continue to believe that the company's participation in the RoL project would give them the upper hand to take on similar projects in the future due to its proven track record. Additionally, the premium landbanks that Ekovest owned within the KL Waterfront vicinity offer the company the opportunity for niche residential property and mixed development projects in the future that are easily accessible via land and water modes of transport.  

 

Others :

IJM Corp: Bags RM1.1bil LRT3 underground package                        BUY

 

 

QUICK TAKE

UMW Holdings: Cash call of up to RM1.1bil with rights issue         HOLD

 

 

RETAIL RESEARCH

Stocks On Radar: Gabungan AQRS, Dayang Enterprise, Formosa Prosonic, TRIplc

 

 

ECONOMIC HIGHLIGHT

Malaysia: Overall business confidence to improve

 

 

NEWS HIGHLIGHTS

IOI Prop: Scraps agreement with Hongkong Land

Kelington: Eyes 30% profit contribution from industrial gases business

MAHB: May build KLIA3 within 5 years

Cryptocurrency: Bank Negara issues alert about Coinzer

 

 

 

 

DISCLAIMER:

The information and opinions in this report were prepared by AmInvestment Bank Bhd. The investments discussed or recommended in this report may not be suitable for all investors. This report has been prepared for information purposes only and is not an offer to sell or a solicitation to buy any securities. The directors and employees of AmInvestment Bank Bhd. Bhd may from time to time have a position in or with the securities mentioned herein. Members of the AmBank Group Bhd and their affiliates may provide services to any company and affiliates of such companies whose securities are mentioned herein. The information herein was obtained or derived from sources that we believe are reliable, but while all reasonable care has been taken to ensure that stated facts are accurate and opinions fair and reasonable, we do not represent that it is accurate or complete and it should not be relied upon as such. No liability can be accepted for any loss that may arise from the use of this report. All opinions and estimates included in this report constitute our judgment as of this date and are subject to change without notice.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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