RHB Research maintains Buy on Pintaras

KUALA LUMPUR: RHB Research has maintained its Buy call on Pintaras with a raised fair value of RM4.61 from RM3.50 on improved earnings visibility following its recent slew of contract wins.

In a note on Friday, RHB said Pintaras Jaya is a good proxy to the buoyant piling segment backed by the Klang Valley MRT project, a proliferation of high-rise developments, and capacity shortage, which will boost piling rates.