Stock Name: KSH Hldg
Company Name: KSH HOLDINGS LIMITED
OCBC Investment Research in a Nov 9 research report says: "KSH Holdings announced 2QFY12 PATMI of $5.2 million, up 24.1% y-o-y. This came in somewhat above our expectations given the faster-than-expected $19.8 million revenue recognition from the property development segment (Lincoln Suites).
"1HFY12 PATMI constituted 59% of our FY2012 forecast. Going forward, we look to construction contract wins and pace of development sales, especially at Cityscape, to be pertinent price drivers. We also expect 2HFY12 earnings to remain buoyant as Cityscape and Boutiq begin construction.
"In addition, of the construction projects, only Watten Residences is slated for completion by early 2012; Mt. Alvernia would start contributing in 3QFY12. We update our assumptions and revise our fair value estimate up to 30 cents from 28 cents previously. MAINTAIN BUY."
Company Name: KSH HOLDINGS LIMITED
| Research House: OCBC | Price Call: BUY | Target Price: 0.30 |
OCBC Investment Research in a Nov 9 research report says: "KSH Holdings announced 2QFY12 PATMI of $5.2 million, up 24.1% y-o-y. This came in somewhat above our expectations given the faster-than-expected $19.8 million revenue recognition from the property development segment (Lincoln Suites).
"1HFY12 PATMI constituted 59% of our FY2012 forecast. Going forward, we look to construction contract wins and pace of development sales, especially at Cityscape, to be pertinent price drivers. We also expect 2HFY12 earnings to remain buoyant as Cityscape and Boutiq begin construction.
"In addition, of the construction projects, only Watten Residences is slated for completion by early 2012; Mt. Alvernia would start contributing in 3QFY12. We update our assumptions and revise our fair value estimate up to 30 cents from 28 cents previously. MAINTAIN BUY."
No comments:
Post a Comment