News by CIMB Research

MRCB’s order book growth story remains intact with more potential contract wins in 2016.

The property is strategically located in Jalan Kewajipan, within the thriving locality of USJ 1, Subang Jaya, and broadly sandwiched between two major highways, namely the Shah Alam Expressway to its north and the Damansara–Puchong Expressway to its south.

Note that S P Setia has changed its financial year-end from October to December, and we have applied the same earnings forecasts for the 14 months ending Dec 31, 2015 period as we did for the 12 months ending Oct 31, 2015 period, in view of weak property market conditions and the group’s lowered sales target for this year.

Tender and award phases for larger value jobs, both public and private sector-funded, are still in the pipeline, supporting our assumption that new jobs worth RM1.5 billion to RM2 billion will be secured over the next two years.