Outstanding order book a boost for Sapura

AmInvestment Research reiterated its “buy” recommendation on Sapura Energy with an unchanged fair value of 29 sen a share, pegged to a 50% discount to its forecast FY21 book value.

KUALA LUMPUR: AmInvestment Research believes that Sapura Energy Bhd’s outstanding order book can increase by 10% to RM13bil based on the group’s bids of RM53bil currently.

In a research note yesterday, it said the RM53bil would be 4.1 times its current order book. Additionally, the group is looking for prospective projects worth up to RM93bil.