VIVOCOM, a new entrant into the sand mining and export business has recently secured a RM3.79 billion contract to supply sea sand to Hong Kong. The contract’s tentative profit before tax (PBT) of RM208.7 million per annum (43.65% stake), and potentially much higher earnings suggest that the company is trading at steep discount – indicating upside potential given the growth prospects of the sand business in the immediate future.
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