KUALA LUMPUR: AmInvestment Research has increased the earnings forecast for Econpile and target price by one sen to 18 sen after it secured a US$85.7mil (RM347.6mil) contract in Cambodia.
Econpile bagged a piling and substructure work subcontract for the integrated entertainment complex in Phnom Penh from MCC International Incorporation Ltd. The construction period is 30 months.
The latest job is the first major contract Econpile has bagged in FY21F, boosting its outstanding order book to RM1bil.
In its research report on Wednesday, AmInvest Research raised its FY21–23F net profit forecasts by 6%, 9% and 10% respectively.
AmInvest Research also revised up its fair value for Econpile by 6% to 18 sen from 17 sen based on eight times revised fully diluted CY21F EPS of 2.2 sen.
Econpile accepts RM347mil job for Phnom Penh entertainment complex thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.