Faber Group Berhad
Results Preview : IFM Business Likely Boost 2QFY10 Earnings
Fitters Diversified
Visit Note : “Foetus” Of A Green Revolution
Quill Capita Trust
Results Note : 1HFY12/10 Gross Revenue Grows 3% YoY
Market Technical Reading
Daily Trading Strategy : The Bulls Are Ready To Take The Market Higher…
Corporate Highlights...-30/07/2010
Showing posts with label Fitters Diversified. Show all posts
Showing posts with label Fitters Diversified. Show all posts
Friday, July 30, 2010
Fitters Diversified Berhad : “Foetus” Of A Green Revolution - 31/07/2010
From fire prevention to green energy. Fitters Diversified (Fitters) ispredominantly engaged in fire prevention & protection business. While profitable and cash-generative, this bread-and-butter business is unable to take Fitters to a higher level due to its muted growth prospects. Realising the need to explore new growth areas to create new shareholder value, Fitters about 2-3 years ago already identified green energy as the way forward for the company. Since then, via 83%-owned unit Future NRG, it has identified and secured rights to the biomass/plasma gasification technology.
Fitters Diversified Berhad : “Foetus” Of A Green Revolution - 30/07/2010
Fitters Diversified Berhad : “Foetus” Of A Green Revolution - 30/07/2010
RHB Equity 360° (Faber, Fitters, Quill Capita; Technical: Landmarks) - 30/07/2010
Top Story : Faber – IFM business likely boost 2QFY10 earnings Outperform
Results Preview
- Faber is expected to announce its 2QFY10 results on 5 Aug. We believe 2Q net profit could be higher yoy due to stronger contribution from both concession and non-concession businesses, while qoq, net profit is expected to be better thanks to higher contribution from its overseas IFM business.
- Faber recently secured a new contract with Abu Dhabi Health Services Company and the project is worth approximately RM20.4m for a three-year period starting from 16 Aug. We also note that an IFM contract in Madinat Zayed, Abu Dhabi was renewed in May for another year with an annual value of RM57.8m, while a second contract (likely to be >RM100m) also in Madinat Zayed is expected to be renewed by year-end.
- We expect stronger property earnings to come on stream in 2HFY10 following the recognition of earnings from the launch of Taman Desa Phase 1A DBKL in May.
- Maintain forecasts and fair value of RM3.54, which is based SOP valuation. Reiterate Outperform.
RHB Equity 360° (Faber, Fitters, Quill Capita; Technical: Landmarks) - 30/07/2010
Results Preview
- Faber is expected to announce its 2QFY10 results on 5 Aug. We believe 2Q net profit could be higher yoy due to stronger contribution from both concession and non-concession businesses, while qoq, net profit is expected to be better thanks to higher contribution from its overseas IFM business.
- Faber recently secured a new contract with Abu Dhabi Health Services Company and the project is worth approximately RM20.4m for a three-year period starting from 16 Aug. We also note that an IFM contract in Madinat Zayed, Abu Dhabi was renewed in May for another year with an annual value of RM57.8m, while a second contract (likely to be >RM100m) also in Madinat Zayed is expected to be renewed by year-end.
- We expect stronger property earnings to come on stream in 2HFY10 following the recognition of earnings from the launch of Taman Desa Phase 1A DBKL in May.
- Maintain forecasts and fair value of RM3.54, which is based SOP valuation. Reiterate Outperform.
RHB Equity 360° (Faber, Fitters, Quill Capita; Technical: Landmarks) - 30/07/2010