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Showing posts with label GAMUDA. Show all posts
Showing posts with label GAMUDA. Show all posts

Wednesday, 21 March 2012

Request: GAMUDA bullish or bearish?

4 comments:
On a request from my visitor asking about GAMUDA, lets share with me any thought you have in mind.

Let's go for TA.
Yesterday (20/3) share went up 12cent after drop 8cent within 5days before.
Today share has dropped 12cent and closed at RM3.62.
Seems like yesterday up was a fake one.
If really bearish, share price would drop to RM3.60 and RM3.55.
Observing today trade, buy rate was 43% and transaction buy rate was 72% which shown interest buyer on the counter.

After market closed, announcement regarding MRT tunneling project, where MMC & Gamuda JV clinched the package.
If the share already play upfront from Dec 2011 until Feb 2012, then tomorrow another sell down. Some people quote a phrase "buy on speculate, sell on news".

Latest Announcement
EPF & KWAP disposed small unit of shares after accumulate for some time. If today drop due to EPF selling, then tomorrow same thing can happen.



HLIB made a buy call due to tunnelling through. Please read below.

Tunnelling through
  • In MRT Corp's press release yesterday, MMC-Gamuda JV (50:50 stake) hasbeen awarded the 9.5km underground tunnelling works and seven undergroundstations for the Sungai Buloh-Kajang MRT line for RM8.2bn.
  • Replenishment success' With thelatest award, Gamuda has successfully replenished its outstanding order book byan additional RM4.1bn (after adjusting for its 50% stake), bringing its totaloutstanding order book to ~RM6.1bn, translating to 3.3x FY11's constructionorder book and has removed lingering concern on the company's dwindling orderbook.
  • 15.9 sen/share' By assuming a PATmargin of 8%, the tunnelling contract is worth ~15.9 sen/share for Gamuda.
  • Earlier than expected' We are encouragedby the increasing momentum in which MRT Corp has been expediting the contractawards.
  • Circle line next' By securing thistunnelling contract, we believe that MMC-Gamuda JV now stands a higher chancein securing additional tunnelling works for the next MRT line which is known asthe Circle line.
  • Maintain BUY as Gamuda has successfully secured both MRT tunnellingcontract and the PDP role. Potential catalyst for Gemas-Johor EDTP project.

Source: HLIB Research 21 March 2012


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