Sunway Constructions
Sunway Construction (SunCon) has clinched a substantial RM1.5 billion addition to its existing JHB1X0 contract, skyrocketing its value to RM3.2 billion, marking its most significant single contract since inception.
The project, slated for completion by February 2026, promises a positive contribution to FY24F revenue and earnings. With this lucrative win, SunCon’s order book burgeons by 25% to RM7.9 billion, ensuring a busy pipeline for the next 2-3 years.
The company has already surpassed its year-to-date target with RM3.3 billion in new orders. Trading at 18x FY25F PE, SunCon maintains a BUY rating with a revised fair value of RM3.70/share.
“SunCon currently trades at 18x FY25F PE, below its 3-year average of 20x, with a decent dividend yield of 3.3%. Maintain BUY on Sunway Construction (SunCon) with a higher fair value (FV) of RM3.70/share (from RM3.59/share) due to higher earnings estimates.
“Our revised FV is based on an unchanged 20x FY25F P/E, which is on par with its 3- year average. Our 4-star ESG rating remains unchanged, which yields a premium of 3% to our FV,” says AmBank.
Strong fundamentals support resilience in the banking sector.
Structured transitions help ensure long-term stability.
Analysts see upside for Greatech as record orders, data centre demand and improving execution support…
Mitrajaya’s earnings outlook remains positive, supported by stronger revenue recognition, data centre projects and steady…
Improving US-Iran negotiations and easing oil prices lifted global sentiment, while investors stayed cautious ahead…
Vietnam's General Secretary To Lam will visit Thailand, Singapore, and the Philippines from May 27…
This website uses cookies.
