KLSEPSP - IREKA : Invest & Dividend

IREKA (8834)
Construction

The company's financial year end is on 31.3.2012..
As from 3Q earning so far, this company showing very good growth compared to preceding year with profit of 11.622mil than -10.2mil.

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/12/2011	31/12/2010	31/12/2011	31/12/2010
		$$'000	$$'000	$$'000	$$'000
1	Revenue	116,568	99,073	328,298	308,809
2	Profit/(loss) before tax	2,905	-7,396	12,333	-10,264
3	Profit/(loss) for the period	3,024	-7,650	11,622	-10,768
5	Basic earnings/(loss) per share (Subunit)	2.65	-6.71	10.20	-9.45
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.9900		1.9300

News for contribution.

1)      Ireka Engineering and Construction Vietnam Company Limited has been awarded a contract by Hoa Lam-Shangri-La Healthcare Limited Liability Company for the construction and completion of BV4 structure works package for the Proposed City International Hospital at Hi-Tech Healthcare Park Project, Lot BV4, Binh Tan District, Ho Chi Minh City, Vietnam at the contract sum of VND176,649,900,000 (approximately RM27.58 million). The contract works shall be completed by 30 September 2011.
The contract is expected to contribute positively to the earnings of ICB Group for the financial year ending 31 March 2012

 

2)      Ireka Engineering & Construction Sdn Bhd has been awarded a contract by Excellent Bonanza Sdn Bhd for the proposed completion works to the hotel development Kuala Lumpur, at the contract sum of RM109,752,504.00. The contract period shall be 18 months.
The above contract is expected to contribute positively to the earnings of ICB Group for the financial years ending 31 March 2012 and 2013.

 

3)     Ireka Engineering And Construction Vietnam Company Limited has been awarded a contract by Hoa Lam-Shangri-La 1 Limited Liability Company for the construction and completion of works comprises the architectural, mechanical, electrical, external and ancillaries works as set out in the BV4 Main Contract Package for the Proposed City International Hospital Project at Hi-Tech Healthcare Park, Ho Chi Minh City, Vietnam at the contract sum of VND592,241,056,180.00 (approximately RM85,148,994.00). The contract period shall be 11 months with the commencement date on 1 November 2011 and the expected completion date on 30 September 2012.

The contract is expected to contribute positively to the earnings of ICB Group for the financial years ending 31 March 2012 and 2013. 

4)     Ireka Engineering & Construction Sdn Bhd has been awarded a contract by Iringan Flora Sdn Bhd to carry out and complete the fit-out works (“Works”) for the Aloft Hotel, KL Sentral Kuala Lumpur, at the contract sum of RM45,807,145.00. The contract period shall be thirteen (13) months.

The above contract is expected to contribute positively to the earnings of ICB Group for the financial year ending 31 March 2013.

Lowest 52wk = 0.59

Highest 52wk = 0.84 

Current = 0.63

From this, downside is small. we are looking for more higher price and dividend atleast 5%.