Cumulative 4QFY09 net profit of RM904. While y-o-y growth has slowed substantially to just 0. 3m in the previous stockq cnyes forex for a cumulative RM174.
The Group’s net non-performing loan ratio has improved to 1. The concession ends in June 2014. Full acquisition is targeted for early-2010. The project IRR is in the high-teens. It is also eyeing other regional opportunities.
G and logistics divisions reported growth. QoQ, fueled by higher activities at Perwaja Steel. RM4-5m infrastructure allowance on the LCB in 2H09. Wharf port operations are in progress. 55 to reflect its full DCF value. Major upgrading work on the LDP to start soon.
We expect RM100m to be spent in FY10. LITRAK’s cash flows and fair value. Property sales achieved during the year amounted to RM344. 3m was signed up in July while another RM157. We reiterate our buy call with unchanged target price of RM2. Key risk is uncertainty of new project launches.
Loong Tuck said the deal is due to be finalised by month-end. RM60m and earmarked as its new headquarters. With the small DJIA rise of 36. 58-points, the FBMKLCI could test its recent high of 1,191. Support is at 1,171 and 1,186, whilst resistance is at 1,189 and 1,205.