MIDF starts coverage on Matrix Concepts, target price RM1.81
MIDF Research has initiated coverage on Matrix Concepts Holdings Bhd at RM1.52 with a "buy" call and target price (TP) of RM1.81.
MIDF Research has initiated coverage on Matrix Concepts Holdings Bhd at RM1.52 with a "buy" call and target price (TP) of RM1.81.
The company said quarterly revenue rose to RM397.44 million, versus RM334.66 million a year ago.
It also posted higher unbilled sales of RM3.8 billion as at June 30, versus RM3.6 billion as at Dec 31, 2022.
NCT Alliance Bhd (NCT) posted a net profit of RM9.3 million in its second quarter ended June 30, 2023, on the back of a 20% increase in revenue to RM58.4 million.
The research house said the demand for affordable housing remains neglected while unsold units in other segments remain high as they exceed affordability levels.
Genting Group’s Resorts World Sentosa (RWS) is set to benefit from the return of Chinese travellers, according to industry magazine Inside Asian Gaming (IAG).
The research house has maintained its “add” rating on Malayan Cement at RM3.25 with a higher target price of RM5.55 (from RM5.08) and raised the company’s earnings per share by 4% for the financial year 2023 (FY2023), by 32% for FY2024 and by 29% for FY2025.
MIDF Research said that given the moderate growth in the construction and services sectors as well as weaker industrial product index, this will translate into more moderate growth in the second quarter of 2023 (2Q2023).
Property developer Ibraco Bhd has secured a contract worth RM529.83 million to build the Sarawak Second Trunk Road.
Bina Puri Holdings Bhd’s joint venture company has secured a sub-contract worth RM72.85 million under a Public Works Department project in Mukah.