AmInvestment Bank has maintained a “buy” on Econpile Holdings Bhd with an unchanged fair value of RM1.90 per share pegging it at 14 times FY17 forecast price-earnings (PE).
“All in, continue to like Econpile for its strong track record as a leading piling specialist, continued contracts wins on resilient demand, and stable margins. Since its listing, net margin has expanded from 6.5% to 15%,” it said.
The piling and foundation contractor announced that it had secured a contract for foundation and substructure works worth RM208mil from Oxley Rising Sdn Bhd. The duration of the contract is 26 months.
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“All in, continue to like Econpile for its strong track record as a leading piling specialist, continued contracts wins on resilient demand, and stable margins. Since its listing, net margin has expanded from 6.5% to 15%,” it said.
The piling and foundation contractor announced that it had secured a contract for foundation and substructure works worth RM208mil from Oxley Rising Sdn Bhd. The duration of the contract is 26 months.
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