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Categories
| Inter-Pacific Research reiterates outperform call on Mudajaya |
| Business & Market 2009 | |||
| Written by Surin Murugiah | |||
| Wednesday, 17 June 2009 09:44 | |||
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It said the group also was looking for opportunities in infrastructure and construction in Laos, Vietnam and Indonesia. This is in addition to new power plant projects in India, it said. Following its successful tender for the first two phases of independent power plant (IPP) project in Chhattisgarh, India, the company is hopeful of securing the remaining two phases of IPP project in the longer term, said the research house. Inter-Pacific Research said Mudajaya also was planning to expand supply capacity from the power plant to 2,000MW from 1,440MW and is optimistic about the returns from the IPP project, which will commence operation in 2QCY2011. "For now, we are maintaining our forecasts pending further development from these tenders," it said. "Backed by the huge orderbook of more than RM5 billion that will keep them busy for the next three years, good management and track record that could see them securing more projects, we reiterate our outperform recommendation and maintain our fair value."
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