Top Story : Fajarbaru – Eyeing RM400m PFI teaching-hospital in Kuantan Outperform
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- Fajarbaru expects good margins from the recently secured RM70m earth, infrastructure and civil works for Phase 1 of an equa-culture project in Setiu, Terengganu.
- While the project is relatively small in terms of size, it does stand testimony to Fajarbaru’s ability to excel under a competitive environment.
- Fajarbaru is currently bidding for a RM400m teaching-hospital project in Kuantan based on the PFI model. It has also been pre-qualified to bid for the parking apron package of the new LCCT worth about RM200m.
- In addition, it is eyeing a bridge/road project in Peninsula Malaysia. For the LRT line extension project, Fajarbaru will join hands with a foreign group that will bring along with it to the JV its track record and possibly certain specialised equipment.
- Fair value is RM1.35. Maintain Outperform.
RHB Equity 360° (Fajarbaru, O&G, Axiata, B-Toto, Tan Chong; Technical: Unisem)
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