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AmInvest Research retains Underweight for Econpile, cuts FV


AmInvest Research is mindful of the acute oversupply situation in the high-rise residential, retail mall and office segments, which translates to weak prospects in property-related job wins for piling contractors like Econpile.

AmInvest Research is mindful of the acute oversupply situation in the high-rise residential, retail mall and office segments, which translates to weak prospects in property-related job wins for piling contractors like Econpile.

KUALA LUMPUR: AmInvestment Research maintained its Underweight call and forecasts for piling contractor Econpile but cut its fair value by 19% to 22 sen from 27 sen due to the weak propsects for property-related jobs.

The research house said on Friday it valued Econpile at its end-FY18 net tangible asset (NTA), adjusted for a worst-case impairment of RM80.1mil (from eight times forward earnings previously).

Analyst Reports , Construction

   

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