【MUHIBAH 5703 交流专区】睦兴旺

一头莽牛

pai seh pai seh

新立机构

原帖由 一头莽牛 于 7-7-2007 12:28 AM 发表
想请问各位大大，各持有muhibbah 和 favco 的，那个比重多点?
我现在是favco 多过muhibbah.

那么你的辉高让你赚了不少吧？
几时请吃？

一头莽牛

favco 下个Q REPORT 应该很劲。又要转版。是不是该等到股息和专版后才swap去母股呢？
我看母股前景亮丽很多。。。
我打算是母股：儿子 2：1
你说呢？

新立机构

咸鱼青菜， 各有所好。
不过我的想法是等拿了股息后再做打算。
而且不要忘记， 母亲比儿子贵上三到四倍。
当然我是希望母亲的价钱能够上上上。。。

hdcyng

Muhibbah Engineering Bhd
It has been awarded a RM1.1bil contract to build the South KlangValley Expressway, boosting the group's order book to RM3.2bil.  The new expressway would be from the Damansara-Puchong Highwayinterchange to Pulau Indah in Klang. The job awarded by SKVE HoldingsSdn Bhd will take 42 months to complete.  
The earnings impact should be felt from the financial year endingDec 31, 2008 onwards. Muhibbah is involved purely in construction worksand not as a concessionaire.
Financial Results …
For its first quarter ended March 31 2007, Muhibbah posted a 51% year-on-year jump in net profit to RM14.63mil.  
Going forward … Of the RM3.2bil outstanding jobs at Muhibbah,RM2.4bil involved infrastructure and construction projects. Theircurrent order book will last them until 2010.
The group would be bidding for RM10bil worth of infrastructure andconstruction projects from 2007 onwards. So far, it has tendered forprojects worth about RM4.5bil, of which it had clinched RM1.6bil injobs.

一头莽牛

劲。。RM 7.90 啦。。。

FAVCO 最近才作了些 SHARE BUY BACK...  少少而已...

Notice of Shares Buy Back - Immediate Announcement
Reference No C&-070628-7EB30
Company Name        :        FAVELLE FAVCO BERHAD
Stock Name         :        FAVCO
Date Announced        :        28/06/2007


               
Date of buy back        :        28/06/2007
Description of shares purchased        :         Ordinary Shares of RM0.50 each
Total number of shares purchased (units)        :        10,000
Minimum price paid for each share purchased (RM)        :        2.040
Maximum price paid for each share purchased (RM)        :        2.060
Total consideration paid (RM)        :        20,576.00
Number of shares purchased retained in treasury (units)        :        10,000
Number of shares purchased which are proposed to be cancelled (units)        :        0
Cumulative net outstanding treasury shares as at to-date (units)        :        10,000
Adjusted issued capital after cancellation
(no. of shares) (units)

新立机构

劲。。。。。起，起， 起。。。

一头莽牛

大家齐齐发。。。

一头莽牛

OSK Research

Company Update

Muhibbah Engineering

TRADING BUY  

Price   RM 7.00

Target  RM 7.70

Wins RM1.1bn SKVE contract

The contract comes as a pleasant surprise to us as much focus has

Muhibbah’s expertise for oil & gas engineering contracts rather than

infrastructure projects. In fact, emphasis was more on the Group’s bid for

in the oil & gas development in East Malaysia by Petronas. With this contract,

raise our estimates for the Group and hence our target price adjusts up

from RM6.80 before and upgrade the stock to a Trading Buy.

The Details. Muhibbah Engineering on Friday announced a colossal RM1.1bn

for the construction of the South Klang Valley Expressway. The South Klang

Expressway will be from Damansara Puchong Highway (LDP) interchange to Pulau

at West Coast of Peninsular Malaysia. The project will include bridge

earthworks, ground treatment, surface drainage, road furniture, utilities

drainage culverts, vehicular box culverts, street lighting and pavement works.

completion of the project is to be in 42 months from the date of site possession.

But margins could be quite thin. While little information is known at this juncture,

expect that margins will be only in the 2-3% level at EBIT level for this project.

the Group’s construction segment margins are usually in the low single digit level

fact only to break even in 1Q07. The bulk of Muhibbah’s bottom-line earnings

driven by its lucrative airport concessions and booming shipyard business. (Appended

some shots of their shipyard in the following page.)

Otherwise, the company is in top form. Inclusive of this contract,

orderbook would have ballooned to the RM3bn level which is historically the highest

for the Group. Its crane business under Favelle Favco (TP RM2.40 BUY) is seeing

improvements, the Group’s shipyard recently saw new orders from Tanjung Offshore

RM2.90 NEUTRAL) and is expanding, also passenger arrivals airports in Cambodia

seeing double digit growth every month.

Earnings raised and TP adjusts to RM7.70. We have raised out FY07 estimates

17.3% and FY08 earnings by 26.7% following the inclusion of this contract

4Q07. Besides that, we have also raised our EBIT margins assumptions from

for the Group’s Yemen LNG project post knowing that all fabrications works

completed in their Klang yard hence resulting in cost savings for the project.

hdcyng

Muhibbah, Favelle eye eastern corridor deals
   By Sharen Kaur
   sharen@nstp.com.my

July 10 2007

MUHIBBAH Engineering Bhd and its crane unitFavelle Favco Bhd will hold talks with Petroliam Nasional Bhd(Petronas) on the proposed RM44 billion Eastern Coastal Corridor megaproject.
Petronas has been given the task to spearheadthe development of the corridor into an investment and industrial zonefor oil- and gas-processing activities and the development ofdownstream petrochemical industries, as well as tourism, education andinfrastructure, over 20 years.

The eastern corridorencompasses Kelantan, northern Terengganu and western Pahang, and ispart of the Ninth Malaysia Plan, together with the Iskandar DevelopmentRegion and the Northern Corridor.

"Favelle currently suppliescranes to Petronas on a large scale and we hope to ride on this to getmore contracts from them," group finance director Shirleen Lee toldBusiness Times recently.

Favelle makes construction towercranes, offshore pedestal cranes, crawler cranes and multipurpose wharfcranes for the oil and gas, infrastructure development and constructionindustry.

According to Lee, the Muhibbah group hasestablished a track record to be an integrated service provider to theoil and gas industry.

It has built oil and gas jetties, oilterminals, bunkering facilities, storage tanks, and worked on gas pipelaying contracts, while Favelle supplies large cranes to oil and gasmajors worldwide.

"A petroleum hub will require all theseexpertise. We hope to build a good relationship with Petronas and get abigger slice of the cake," Lee said.

Muhibbah will also bidfor contracts to construct storage facilities for the US$7 billion(RM24 billion) Trans-Peninsular Oil Pipeline project.

OSKInvestment Bank Bhd, which follows both the companies closely, hasplaced a "buy" call on Favelle but expects profit-taking for Muhibbah.

"Someinvestment interest has divested from Muhibbah to Favco of late. Wealso see more foreign funds buying into Favco. The investments will betrickled when the company moves its listing to the mainboard soon," OSKanalyst Arhnue Tan said.

As for the eastern corridor, Tansaid the bulk of contracts will go to Muhibbah, especially to build oiljetties, while Favelle will benefit from contracts to supply cranes.

"Muhibbah and Favelle have the track record and expertise to perform and do qualify for the eastern corridor project," she said.

hdcyng

Muhibbah shares hit intra-day high
PETALING JAYA: Shares of Muhibbah Engineering (M) Bhd hit aone-year intra-day high of RM8.20 yesterday following the announcementlast Friday that it had bagged a RM1.1bil contract to build the SouthKlang Valley Expressway (SKVE).  
The stock settled RM1.15 higher at RM8.15 on volume of some 1.3 million shares.
Several brokerages yesterday revised upwards their target prices for the stock.  
“With this contract, we raise our estimates for the group and henceadjust our target price to RM7.70 from RM6.80,” OSK Research said in anote to clients.  
  The house upgraded the stock to a “trading buy”.

Workers at Muhibbah Engineering subsidiary Favelle Favco Cranes factory in Kampung Jawa, Klang

The group has four main divisions – infrastructure construction, cranes, shipyard and concessions.
OSK has raised its financial year ending Dec 31, 2007 (FY07) earningsestimate for the company by 17.3% and its FY08 earnings estimate by26.7% in view of new development.
The house expects Muhibbah to generate a net profit of RM55.4mil for FY07 and RM68.4mil for FY08.  
Another local brokerage has also revised upwards the target price for the stock.  
It said the latest contract was significant as it doubled Muhibbah's construction order book to about RM2.3bil.  
The outfit has upgraded the group's FY08 and FY09 earnings per shareestimates by 13.8% to 61 sen and by 15.5% to 55.1 sen, respectively.
The SKVE project has boosted the Muhibbah group's order book to RM3.2bil.

hdcyng

Favelle receives US$4m order

July 11 2007

CRANEmaker Favelle Favco Bhd has received a letter of intent from Larsen& Toubro Ltd to supply two units of offshore pedestal cranes. Thecontract, valued at US$4.34 million, is for a period of 16 to 18months. The cranes are expected to be delivered by end of next year.

hdcyng

辉高获1492万工程2007/07/11 18:02:10 ●南洋商报

（吉隆坡11日讯）辉高（Favco，7229，二板工业产品股）旗下独资子公司-辉高起重机（马）私人有限公司获得Larsen &Toubro私人有限公司的意向书，为后者供应2个岸外基座式起重机，合约总值433万9千576美元（约1千492万8千378令吉）。

料明年杪完成工程

据该公司的文告指出，该项工程预料将在2008年杪完成，并将为辉高在截至2007年12月31日财政年及以后的盈利及净资产作出正面的贡献。该项计划将对公司的股本及股权结构不会有任何的影响。

hdcyng

Notice of Shares Buy Back by a Company Pursuant to Form 28A
Reference No C&-070711-318F4

Company Name	:	MUHIBBAH ENGINEERING (M) BHD
Stock Name	:	MUHIBAH
Date Announced	:	11/07/2007

Date of buy back from	:	28/06/2007
Date of buy back to	:	03/07/2007
Total number of shares purchased (units)	:	249,000
Minimum price paid for each share purchased (RM)	:	6.650
Maximum price paid for each share purchased (RM)	:	6.750
Total amount paid for shares purchased (RM)	:	1,675,225.00
The name of the stock exchange through which the shares were purchased	:	Bursa Malaysia Securities Berhad
Number of shares purchased retained in treasury (units)	:	249,000
Total number of shares retained in treasury (units)	:	249,000
Number of shares purchased which were  cancelled (units)	:	0
Total issued capital as diminished	:	0
Date lodged with registrar of companies	:	11/07/2007
Lodged by	:	Symphony Corporatehouse Sdn Bhd (f.k.a. Corporatehouse Services Sdn Bhd)

Notice of Shares Buy Back by a Company Pursuant to Form 28A
Reference No C&-070711-3CB33

Company Name	:	FAVELLE FAVCO BERHAD
Stock Name	:	FAVCO
Date Announced	:	11/07/2007

Date of buy back from	:	28/06/2007
Date of buy back to	:	03/07/2007
Total number of shares purchased (units)	:	10,000
Minimum price paid for each share purchased (RM)	:	2.040
Maximum price paid for each share purchased (RM)	:	2.060
Total amount paid for shares purchased (RM)	:	20,576.00
The name of the stock exchange through which the shares were purchased	:	Bursa Malaysia Securities Berhad
Number of shares purchased retained in treasury (units)	:	10,000
Total number of shares retained in treasury (units)	:	10,000
Number of shares purchased which were  cancelled (units)	:	0
Total issued capital as diminished	:	0
Date lodged with registrar of companies	:	11/07/2007
Lodged by	:	Symphony Corporatehouse Sdn Bhd (f.k.a. Corporatehouse Services Sdn Bhd)

hdcyng

General Announcement
Reference No MM-070711-56081

Submitting Merchant Bank	:	RHB INVESTMENT BANK BERHAD
Company Name	:	FAVELLE FAVCO BERHAD
Stock Name	:	FAVCO
Date Announced	:	11/07/2007

Type	:	Announcement
Subject	:	Favelle Favco Berhad ("FFB" or the "Company") - Proposed transfer of the listing of and quotation for the entireenlarged issued and paid-up share capital of FFB from the Second Boardto the Main Board of Bursa Malaysia Securities Berhad ("BursaMalaysia") ("Proposed Transfer Listing")

Contents :

Further to the announcements dated 24 May 2007, 1June 2007 and 7 June 2007, on behalf of the Board of Directors of FFB,RHB Investment Bank Berhad (formerly known as RHB Sakura Merchant Bankers Berhad)("RHB INVESTBANK") is pleased to announce that the SecuritiesCommission ("SC") had vide its letter dated 9 July 2007, which wasreceived by RHB INVESTBANK on 11 July 2007, approved the ProposedTransfer Listing pursuant to Section 32(5) of the Securities CommissionAct, 1993 and the Foreign Investment Committee's Guidelines on theAcquisition of Interests, Mergers and Take-overs by Local and ForeignInterests.

The approval by the SC is subject to, amongstothers, the condition that the transfer of the listing status can onlybe effected after FFB has been listed on the Second Board of BursaMalaysia for at least one (1) year. FFB was listed on the Second Boardof Bursa Malaysia on 15 August 2006.

This announcement is dated 11 July 2007.

hdcyng

Muhibbah Engineering Bhd
It will hold talks with Petroliam Nasional Bhd (Petronas) on the proposed RM44 billion Eastern Coastal Corridor mega project.

Petronas has been given the task to spearhead the development of the corridor into an investment and industrial zone for oil- and gas-processing activities and the development of downstream petrochemical industries, as well as tourism, education and infrastructure, over 20 years.
The eastern corridor encompasses Kelantan, northern Terengganu and western Pahang, and is part of the Ninth Malaysia Plan, together with the Iskandar Development Region and the Northern Corridor

Favelle currently supplies cranes to Petronas on a large scale and hope to ride on this to get more contracts from them. Favelle makes construction tower cranes, offshore pedestal cranes, crawler cranes and multipurpose wharf cranes for the oil and gas, infrastructure development and construction industry.

hdcyng

Submitting Merchant Bank	:	ASEAMBANKERS MALAYSIA BERHAD
Company Name	:	MUHIBBAH ENGINEERING (M) BHD
Stock Name	:	MUHIBAH
Date Announced	:	19/07/2007

Type	:	Announcement
Subject	:	MUHIBBAH ENGINEERING (M) BHD ("MEB" OR "COMPANY") · PROPOSED BONUS ISSUE OF UP TO 38,605,650 NEW ORDINARY SHARES OF RM1.00 EACH IN MEB ("BONUS SHARES") TO BE CREDITED AS FULLY PAID-UP, ON THE BASIS OF ONE (1) BONUS SHARE FOR EVERY FOUR (4) EXISTING ORDINARY SHARES OF RM1.00 EACH IN MEB ("MEB SHARES") ("PROPOSED BONUS ISSUE"); · PROPOSED SHARE SPLIT INVOLVING THE SUBDIVISION OF EVERY ONE (1) EXISTING MEB SHARE INTO TWO (2) ORDINARY SHARES OF RM0.50 EACH IN MEB ("PROPOSED SHARE SPLIT"); AND · PROPOSED AMENDMENTS TO THE MEMORANDUM OF ASSOCIATION AND ARTICLES OF ASSOCIATION OF MEB ("PROPOSED M&A AMENDMENTS")

lembu08

刚买 favco

稀望能上上上 ！！！

hdcyng

20-07-2007: Muhibbah’s order booksurges 50%, forecasts raised


Email us your feedback at fd@bizedge.com
                                    MuhibbahEngineering (RM8.70) has landed another coup, securing its singlebiggest contract to date and immediately boosting its order-book sizeby RM1.1 billion or 52% to a significant RM3.2 billion.
From being a small niche player just a couple of years ago, Muhibbah is now clearly joining the ranks of the big boys.
On 6 July 2007, Muhibbah announced that it was awarded a contractworth RM1.1 billion for the construction of the South Klang ValleyExpressway (SKVE).
The expressway,spanning approximately 44 km, will be from the Damansara PuchongHighway (LDP) interchange to Pulau Indah in Klang, and will includeconstruction works for bridges structures, earthworks, ground treatmentand surface drainage.
The project will becompleted within 42 months from the date of first site possession, withland acquisition to be undertaken by the government. Muhibbah hasstarted some preliminary studies, but the bulk of the work is expectedto start next year, and should contribute positively from 2008-2011.
The entire SKVEexpressway project was awarded to Muhibbah. However, we understand thecompany may parcel or sub-contract out some small parts of it, such asroad construction, which are relatively simple to construct and wherethere are ample contractors hungry for jobs.
This will free it upto focus more on the technically difficult aspects of the expressway,such as bridges and flyovers, as well as other new jobs which comes itsway. The company is bidding for around RM10 billion of projects andhopes to secure another RM1-2 billion.
Outlook and recommendation
The SKVE project is a significant achievement for Muhibbah, rankingit among the few major construction groups — and especially a non-tollconcessionaire — to have secured the construction job for an entirehighway.
The contract willboost Muhibbah’s order-book by a substantial 52% from RM2.1 billion toRM3.2 billion. By comparison, its order-book stood at just RM1.41billion at end-2006 and RM810 million at end-2005.
The SKVE project isnow the single largest project in its order-book, followed by the RM581million Yemen LNG project and the RM450 million petroleum hub andbunkering facility near Tanjung Pelepas.
Muhibbah is currentlybidding for RM10 billion worth of projects, and hopes to secure anotherRM1-2 billion before the year is out. Its higher profile, technicalexpertise (especially in oil & gas related projects) and ability todeliver projects on time and within budget have increased its successrate.
The SKVE project isexpected to generate pre-tax profit margins of around 5%-6% and willboost profits from 2008-2011. Its large order-book, equivalent to 3.2times its 2006 revenue of RM1 billion and 2.5 times its marketcapitalisation of RM1.3 billion, will underpin earnings growth, goingforward.
We are keeping our2007 forecast broadly unchanged, but are raising our 2008 EPS forecastby 23%. We have also raised our dividend forecast for 2008 from 8 sento 10 sen.
There is a possibilityof further earnings upgrades if the company continues to secure newprojects, which we have not included yet in our forecast forconservatism sake.
We expect Muhibbah’snet profit to rise 71.7% to RM58.8 million, or 39.3 sen per share in2007, and another 44.3% to RM84.9 million, or 56.8 sen per share in2008. This places the stock’s P/E at 22.1 times and 15.3 times2007-2008 earnings.
Despite the strongrally, Muhibbah’s 2008 P/E multiples are still not too expensiverelative to other construction and oil & gas players. Its earningshave risen rapidly and will continue to expand, given its positive newsflow and success at securing new contracts.
We maintain our BUY recommendation.
Note: This report isbrought to you by Asia Analytica Sdn Bhd, a licensed investmentadviser. Please exercise your own judgment or seek professional advicefor your specific investment needs. We are not responsible for yourinvestment decisions. Our shareholders, directors and employees mayhave positions in any of the stocks mentioned.