ZELAN – Analysts reckon Zeland’s share has been oversold and the current share price does not truly reflect the fundamental of the company. Analysts say Zelan is in net cash position of 59.3 mln as at September 30, 2008. It also has 82.7 mln shares of IJM worth 245.5 mln and its order book is 3.3 bln.
Zelan is also on its way to become a regional player in Power Station construction. 90% of its construction profits are from oversea projects.
About 60% of analysts polled with Bloomberg have a “buy” call with 12-month target price of 1.56.
KNM – Analysts believe the stock is currently trading at an attractive level given its global exposure. They say trading at FY2009 PE of only 3.1 times which is a 47% discount to 5.8 times of the Oil and Gas sector is unjustified.
Analysts are positive on KNM’s global reach and its abilities to provide value add services to its client more than before.
KNM’s 3Q net profit jumped 69% to 103.4 mln when compared with 61 mln a year ago.
85% of analysts polled with Bloomberg have a “buy” call on KNM with 12-month target price of 1.17.
RAMUNIA – Analysts say investors should not forget Ramunia’s capacity to clinch new contracts even though the failed RTO has clouded an uncertainty on its prospect. Further to that, the company still has valuable assets on its oil and gas fabrication yard. The yard, which is the largest in
Recently, the company also clinched a new contract worth 700 mln from Shell and PETRONAS bringing its order book close to 1 bln.
Analysts noted that they are not ruling out MISC relooking Ramunia in the future. There is also speculation that at least two other parties are looking to acquire Ramunia’s shares for its fabrication yard.
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