Stock Name: OKP
Company Name: OKP HOLDINGS LIMITED
Research House: SIAS
SIAS Research in a May 10 research report sayd: "OKP handed in another impressive set of results with 1Q FY11 net attributable profit growing by 49.4% y-o-y to $5.2 million. This set of results confirmed that 4Q FY10's record net margin of 15%-16% is being repeated as OKP takes on more complex projects, while managing its costs tightly.
"Currently, the high value design and build contracts, i.e. the CTE widening and TPE interchange projects, make up for almost 50% of OKP's current order book of $375.8 million. Largely as a result of the TPE project, OKP's order book was increased by 21.2%.
"We raised our FY2011F PATMI forecast from $19.3 million to $22.8 million. OKP continues to trade at a very attractive FY11F P/E of only 3.3x on an ex-cash basis. Intrinsic value of 95 cents (previously 93 cents). MAINTAIN INCREASE EXPOSURE."
Company Name: OKP HOLDINGS LIMITED
Research House: SIAS
SIAS Research in a May 10 research report sayd: "OKP handed in another impressive set of results with 1Q FY11 net attributable profit growing by 49.4% y-o-y to $5.2 million. This set of results confirmed that 4Q FY10's record net margin of 15%-16% is being repeated as OKP takes on more complex projects, while managing its costs tightly.
"Currently, the high value design and build contracts, i.e. the CTE widening and TPE interchange projects, make up for almost 50% of OKP's current order book of $375.8 million. Largely as a result of the TPE project, OKP's order book was increased by 21.2%.
"We raised our FY2011F PATMI forecast from $19.3 million to $22.8 million. OKP continues to trade at a very attractive FY11F P/E of only 3.3x on an ex-cash basis. Intrinsic value of 95 cents (previously 93 cents). MAINTAIN INCREASE EXPOSURE."
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