Stock Name: KSH Hldg
Company Name: KSH HOLDINGS LIMITED
DMG & Partners Securities in a Sept 29 research report says: "KSH was awarded a $49.9 million contract to construct an extension to the front lobby of Mount Alvernia Hospital and an extension to the side entrance. This win boosted its order books to >$385 million, up 10% from Jun 11.
"No change to our earnings estimates. We estimate a development surplus of 5.3 cents per share, on the back of contribution from four property development projects. We believe the property development segment would boost KSH's bottomline over the next few years.
"Based on our SOTP valuation, our target price of 31 cents is maintained as we value its construction segment at 5.5x FY2012 earnings (trading at 3.4x prospective earnings). MAINTAIN BUY."
Company Name: KSH HOLDINGS LIMITED
| Research House: DMG | Price Call: BUY | Target Price: 0.31 |
DMG & Partners Securities in a Sept 29 research report says: "KSH was awarded a $49.9 million contract to construct an extension to the front lobby of Mount Alvernia Hospital and an extension to the side entrance. This win boosted its order books to >$385 million, up 10% from Jun 11.
"No change to our earnings estimates. We estimate a development surplus of 5.3 cents per share, on the back of contribution from four property development projects. We believe the property development segment would boost KSH's bottomline over the next few years.
"Based on our SOTP valuation, our target price of 31 cents is maintained as we value its construction segment at 5.5x FY2012 earnings (trading at 3.4x prospective earnings). MAINTAIN BUY."
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