♦ 3 th and 4th key projects this year. WCT has secured two key contracts, namely: (1) A QAR1.59bn (RM1.36bn) government administrative building job in Doha, Qatar;
and (2) The Tuaran hospital project in Sabah worth RM127.8m. The latest contracts are the 3rd and 4th key jobs WCT has secured this year, boosting its YTD new contracts secured to RM2.1bn (see Table 2) and its outstanding construction orderbook by 53% to RM4.3bn
(see Table 3). Assuming an EBIT margin of 8-10%, the latest contracts will fetch RM119-149m EBIT over the construction period ending Apr/May 2013. While we are positive on the latest development, we expect limited reaction from the the market as WCT had been hinting on the Qatar job for a while by now.
WCT Berhad : Secures RM1.36bn Building Job In Qatar And RM128m Hospital Project In Sabah - 21/10/2010
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