KUALA LUMPUR: AmResearch is maintaining its Buy recommendation onHock Seng Lee with a sum-of-parts fair value of RM2.48 a share after it bagged a RM228mil contract for an 18-storey building.
The research house said on Friday its fair value of RM2.48 included a price-to-earnings of 8.0 times against its three-year average forward earnings for its construction division.
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