FABER (1368) - RHB Research maintains Buy on Faber
Monday, 23 March 2015
KUALA LUMPUR: RHB Research maintains its Buy on Faber with a target price of RM3.71 given its 10 times FY16F P/E, 7.0% dividend yield and 22.1% ROE.
"Also, as Faber has traded as high as 20 times P/E historically, we think the stock is a good Buy at this juncture," it said in a note on Monday.
It added that a new hospital support services (HSS) agreement was inked on 11 Mar 2015. The contract, which will take effect on 1 Apr 2015 for a period of 10 years, is the continuation of HSS provision for government hospitals in northern Peninsular Malaysia, Sabah and Sarawak.
"Management expects the contract to generate RM400mil revenue per year," it said.
It said Opus continued to be the major revenue contributor at 53% of the group’s FY14 revenue, followed by
infrastructure management via Projek Penyelengaraan Lebuhraya (PROPEL) at 25% and the HSS division at 22%.
"At the PBT level, Opus contributed 44%, followed by PROPEL at 16% and HSS at 19%," it said.
http://www.thestar.com.my
Monday, 23 March 2015
KUALA LUMPUR: RHB Research maintains its Buy on Faber with a target price of RM3.71 given its 10 times FY16F P/E, 7.0% dividend yield and 22.1% ROE.
"Also, as Faber has traded as high as 20 times P/E historically, we think the stock is a good Buy at this juncture," it said in a note on Monday.
It added that a new hospital support services (HSS) agreement was inked on 11 Mar 2015. The contract, which will take effect on 1 Apr 2015 for a period of 10 years, is the continuation of HSS provision for government hospitals in northern Peninsular Malaysia, Sabah and Sarawak.
"Management expects the contract to generate RM400mil revenue per year," it said.
It said Opus continued to be the major revenue contributor at 53% of the group’s FY14 revenue, followed by
infrastructure management via Projek Penyelengaraan Lebuhraya (PROPEL) at 25% and the HSS division at 22%.
"At the PBT level, Opus contributed 44%, followed by PROPEL at 16% and HSS at 19%," it said.
http://www.thestar.com.my
