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Categories
| HDBSVR maintains Buy on Gamuda |
| Business & Market 2010 | |||
| Written by Hwang DBS Vickers Research | |||
| Friday, 25 June 2010 09:36 | |||
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KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) is maintaining a Buy on Gamuda Bhd with a Target Price of RM4.35. It said on Friday, June 25 that Gamuda is an excellent proxy to the Malaysian infrastructure story with the potential RM36 billion mass rapid transit (MRT) project doubling its RM6.5 billion orderbook. "It is also an ideal proxy to the long term structural boom of the property market in Vietnam. "For the first time, Gamuda has also guided for property sales in Vietnam of RM820m and RM1.25bn in FY11 and FY12, respectively, offering some upside to our forecasts," it said.
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