GAMUDA 5398 QUARTERLY REPORT 31 JAN 2019
Quarterly Report Review:
收入与去年同期相比增加13%。
但净利却减少20%。
该集团在越南和新加坡的房产业务表现好，但马来西亚的房产业务表现却较差。
该集团的工程业务减少主要是MRT 2 的合约价值减少促使盈利减少。
该集团的基础设施业务减少主要是去年出售splash业务。
该集团与MMC集团合作的MRT 2高架工程计划已完成40%。
该集团与MMC集团合作的MRT 2地下工程计划已完成49%。
该集团与NAIM集团合作的Pan Borneo高速公路计划已完成39%。
该集团的LRT环境影响评估报告于2017年5月18日提交环境部，预计于2019年5月批准，详细的工程设计将于2019年5月开始。
该集团的PIL1高速公路的环境影响评估报告已于2019年1月11日提交给能源部，预计将于2019年5月批准，详细工程计划于2019年5月开始实施。
Reference Price:
27.03.2019
Price: RM 2.80
Rolling EPS: RM 0.1805
PE: 15.51
NTA: RM 3.17
Price/NTA: 0.88
PE*Price/NTA: 13.70
Undervalued: RM 2.69
Fair Value: RM 3.58
Overvalued: RM 5.37
Disclaimer:
The information contained in this research is based on data obtained from sources believed to be reliable. However, the data and/or sources have not been independently verified and as such, no representation, express or implied, is made as to the accuracy, adequacy, completeness or reliability of the info or opinions in the research.
Accordingly, neither 以牛攻熊 nor any of its related companies and associates nor person connected to it accept any liability whatsoever for any direct, indirect or consequential losses (including loss of profits) or damages that may arise from the use or reliance on the info or opinions in this publication. Any information, opinions or recommendations contained herein are subject to change at any time without prior notice. 以牛攻熊 has no obligation to update its opinion or the information in this research.
Investors are advised to make their own independent evaluation of the info contained in this research and seek independent financial, legal or other advice regarding the appropriateness of investing in any securities or the investment strategies discussed or recommended in this research. Nothing in this research constitutes investment, legal, accounting or tax advice or a representation that any investment or strategy is suitable or appropriate to your individual circumstances or otherwise represent a personal recommendation to you.
This research is being supplied to you on a strictly confidential basis solely for your information and is made strictly on the basis that it will remain confidential. All materials presented in this research, unless specifically indicated otherwise, is under copyright to 以牛攻熊. This research and its contents may not be reproduced, stored in a retrieval system, redistributed, transmitted or passed on, directly or indirectly, to any person or published in whole or in part, or altered in any way, for any purpose.
This research may provide the addresses of, or contain hyperlinks to, websites. 以牛攻熊 takes no responsibility for the content contained therein. Such addresses or hyperlinks (including addresses or hyperlinks to 以牛攻熊 own site material) are provided solely for your convenience. The information and the content of the linked site do not in any way form part of this research. Accessing such website or following such link through the research or 以牛攻熊 site shall be at your own risk.
收入与去年同期相比增加13%。
但净利却减少20%。
该集团在越南和新加坡的房产业务表现好，但马来西亚的房产业务表现却较差。
该集团的工程业务减少主要是MRT 2 的合约价值减少促使盈利减少。
该集团的基础设施业务减少主要是去年出售splash业务。
该集团与MMC集团合作的MRT 2高架工程计划已完成40%。
该集团与MMC集团合作的MRT 2地下工程计划已完成49%。
该集团与NAIM集团合作的Pan Borneo高速公路计划已完成39%。
该集团的LRT环境影响评估报告于2017年5月18日提交环境部，预计于2019年5月批准，详细的工程设计将于2019年5月开始。
该集团的PIL1高速公路的环境影响评估报告已于2019年1月11日提交给能源部，预计将于2019年5月批准，详细工程计划于2019年5月开始实施。
Reference Price:
27.03.2019
Price: RM 2.80
Rolling EPS: RM 0.1805
PE: 15.51
NTA: RM 3.17
Price/NTA: 0.88
PE*Price/NTA: 13.70
Undervalued: RM 2.69
Fair Value: RM 3.58
Overvalued: RM 5.37
Disclaimer:
The information contained in this research is based on data obtained from sources believed to be reliable. However, the data and/or sources have not been independently verified and as such, no representation, express or implied, is made as to the accuracy, adequacy, completeness or reliability of the info or opinions in the research.
Accordingly, neither 以牛攻熊 nor any of its related companies and associates nor person connected to it accept any liability whatsoever for any direct, indirect or consequential losses (including loss of profits) or damages that may arise from the use or reliance on the info or opinions in this publication. Any information, opinions or recommendations contained herein are subject to change at any time without prior notice. 以牛攻熊 has no obligation to update its opinion or the information in this research.
Investors are advised to make their own independent evaluation of the info contained in this research and seek independent financial, legal or other advice regarding the appropriateness of investing in any securities or the investment strategies discussed or recommended in this research. Nothing in this research constitutes investment, legal, accounting or tax advice or a representation that any investment or strategy is suitable or appropriate to your individual circumstances or otherwise represent a personal recommendation to you.
This research is being supplied to you on a strictly confidential basis solely for your information and is made strictly on the basis that it will remain confidential. All materials presented in this research, unless specifically indicated otherwise, is under copyright to 以牛攻熊. This research and its contents may not be reproduced, stored in a retrieval system, redistributed, transmitted or passed on, directly or indirectly, to any person or published in whole or in part, or altered in any way, for any purpose.
This research may provide the addresses of, or contain hyperlinks to, websites. 以牛攻熊 takes no responsibility for the content contained therein. Such addresses or hyperlinks (including addresses or hyperlinks to 以牛攻熊 own site material) are provided solely for your convenience. The information and the content of the linked site do not in any way form part of this research. Accessing such website or following such link through the research or 以牛攻熊 site shall be at your own risk.
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