• The research house said Kerjaya’s new order wins would remain largely from internal projects, comprising circa 60% of its RM1.5 billion orderbook replenishment in 2024.

LUMPUR (May 20): Phillip Capital has maintained its “buy” rating on Kerjaya Prospek Group Bhd at RM1.80 with a higher target price (TP) of RM2 (from RM1.93) and said it expects Kerjaya’s 1Q2024 net profit to come in stronger year-on-year, but flat quarter-on-quarter.

In a note on Monday, the research house said Kerjaya’s new order wins would remain largely from internal projects, comprising circa 60% of its RM1.5 billion orderbook replenishment in 2024.

It said Kerjaya is targeting opportunities related to the Penang airport expansion and semiconductor-related jobs within the state.

“Raise our SOP-derived target price to RM2.00 (from RM1.93) after rolling forward our valuation horizon. Reiterate Buy,” it said.

Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!

SHARE
RELATED POSTS
  1. Hyatt Regency Kuala Lumpur at KL Midtown to open doors in Mont'Kiara this August
  2. US court dismisses initial suit by Genting Malaysia's business partner, allows amended complaint
  3. Johor-Singapore Special Economic Zone development to spur emergence of satellite towns, says MB