18 January 2018 07:22AM

WCT - Paradigm Shift Unnecessary, Better Execution Will Do

We upgrade WCT to BUY (from Neutral), as we raise our SOP-based TP by 35% to MYR2.18 (from MYR1.62, 31% upside). Our upgrade is premised on its outstanding construction orderbook of MYR6bn – a record for the company – which would keep it busy for the next three years. We believe WCT stands a good chance of securing a further MYR2bn worth of jobs in FY18, with the commencement of works for major projects such as the ECRL and Pan...

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