KUALA LUMPUR: Maybank Investment Bank Research is positive over Wah Seong Corp Bhd's RM148mil UK job win as it reflects the recovery in the tendering space.
"Valuations are still undemanding (6-7x FY22-23 PER), for the market has yet to fully embrace the swift earnings turnaround outlook, especially its Qatari and Malaysia prospects, which would feature prominently from FY22," said the research house.
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