KUALA LUMPUR (Nov 14): RHB Research has maintained its Outperform rating and fair value of RM1.95 for Eversendai Corporation Bhd and said the company was substantially insulated from the European debt crisis.
In a note Nov 14, RHB Research said that Eversendai had reiterated that it was on track to meet its IPO net profit forecasts of RM116.7 million and RM130.2 million in FY12/11-12 and FY12/11 new orderbook guidance of RM1.4 billionn.
'It expects "hectic" times ahead in Malaysia underpinned largely by potential jobs from the Manjung and Tanjung Bin power plant extension projects.
'It reiterated that the European debt crisis will not have a significant bearing on its business prospects, given that its main markets are the Middle East, India and Malaysia,' said the research house.
In a note Nov 14, RHB Research said that Eversendai had reiterated that it was on track to meet its IPO net profit forecasts of RM116.7 million and RM130.2 million in FY12/11-12 and FY12/11 new orderbook guidance of RM1.4 billionn.
'It expects "hectic" times ahead in Malaysia underpinned largely by potential jobs from the Manjung and Tanjung Bin power plant extension projects.
'It reiterated that the European debt crisis will not have a significant bearing on its business prospects, given that its main markets are the Middle East, India and Malaysia,' said the research house.
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