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Thursday, June 23, 2011

KKB - An Overlooked Steel Fabricator (OSK)

With the developments within SCORE picking up steam and its new riverfront fabrication yard now ready for commissioning, KKB is well positioned to take on more jobs given its solid track record and local expertise. In addition, the stock deserves a re-rating, especially in view of the upcoming listing of its peer, Eversendai Corporation, which is being priced at almost double KKB’s current valuation. Thus we maintain our BUY rating with a fair value of RM3.00.

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