Builder-cum-property developer WCT Holdings Bhd could reward its shareholders and pare down borrowings with the nearly RM1.2bil claims it was awarded by a Dubai tribunal over a long-standing contract dispute with Meydan Group LLC.
“Although its management has yet to decide what to do with the claims award, we believe WCT could utilise the money to pare down some borrowings, declare a special dividend and fund landbanking capital expenditure (capex),” said Kenanga Research in a report.
“If we look at its balance sheet, (it had) a high net gearing of 0.7 times as at the first quarter of this year,” it noted.
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“Although its management has yet to decide what to do with the claims award, we believe WCT could utilise the money to pare down some borrowings, declare a special dividend and fund landbanking capital expenditure (capex),” said Kenanga Research in a report.
“If we look at its balance sheet, (it had) a high net gearing of 0.7 times as at the first quarter of this year,” it noted.
Click Here To Register For Free Trial Services OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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