It was incorporated in 1979 and is based in Kuching, Malaysia.
The company undertakes
i) dredging
ii) land reclamation and earthworks
iii) road and bridge construction
iv) coastal protection works
v) other infrastructure and building works
vi) development of residential and commercial properties.
Its major shareholders are:
HSL 58.4%, EPF 9.7%, Skim Amanah Saham 5.3%
Free float 25.2%
| MYR '000 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013F | 2014F |
| Turnover | 248168 | 309069 | 375021 | 488276 | 581500 | 637200 | 663400 | 698700 |
| Profit After Tax | 38940 | 41839 | 56323 | 73439 | 87300 | 100500 | 111000 | 119000 |
| Extraordinary Items | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| P/E Ratio | 15.186 | 6.085 | 10.341 | 12.836 | 9.9 | 8.7 | 7.9 | 7.3 |
| Gross EPS (Sen) | 34.9 | 7.56 | 10.25 | 13.4 | 15.8 | 18 | 19.9 | 21.3 |
| Dividend (Sen) | 3 | 2 | 12 | 15 | 3.6 | 3.6 | 3.6 | 3.6 |
| Dividen Payout | 86 | 26.5 | 117.1 | 111.9 | 16.3 | 14.1 | 13.1 | 12.2 |
| Dividen Yield | 0.566 | 4.348 | 11.321 | 8.721 | 1.9 | 2.3 | 2.3 | 2.3 |
| Current Ratio | 2.284 | 1.838 | 1.94 | 1.789 | 1.8 | 2 | 2.2 | 2.5 |
| Quick Ratio | 2.022 | 1.661 | 1.877 | 1.609 | 1.8 | 1.9 | 2.1 | 2.3 |
| Total Debt Equity Ratio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash And Cash Equivalents | 40651 | 56492 | 75910 | 89252 | 94000 | 22700 | 54200 | 64400 |
| Return on Equity | 17.937 | 17.243 | 19.292 | 21.283 | 23.1 | 22 | 20.1 | 18.2 |
| Return on Total Assets | 12.449 | 10.418 | 11.789 | 12.617 | 13.8 | 13.7 | 13.2 | 12.5 |
| Return on Revenue | 15.691 | 13.537 | 15.019 | 15.04 | ||||
| Source: KLSE data and Maybank IB | ||||||||
Today's Price: RM 1.66
PER : 10.79x
PBR: 1.7x
Div 2.1%
Latest TP:
| 28/2/2014 | Maybank | 2.30 |
| 28/2/2014 | HLB | 1.96 |
| 28/2/2014 | PB | 1.80 |
| 28/2/2014 | AMMB | 2.40 |
| 2/12/2013 | RHB | 2.06 |
Looks good, but not that great I guess. Fundamentally strong, but much will depend on future contract wins. No debt, but divvy rather low.
