Today, we introduce our “Construction: Jobs Flow Tracker”, which seeks to measure the momentum of contract awards. Over the 1Q10 period, some RM2.85bn worth of jobs was awarded. Domestic contracts showed a healthy 16% y-o-y increase but contracted by 38% q-o-q due to the high base effect.

• Within expectations
6MFY10 results achieved 45% and 43% of house and consensus full-year estimates respectively. We deem the results to be broadly in line as we expect 2HFY10 to report stronger earnings. As expected, no dividends were declared.

KUALA LUMPUR: Gamuda Bhd's earnings rose 38% to RM68.03 million in the second quarter ended Jan 31, 2010 from RM49.05 million a year ago, boosted by the strong performances in all its divisions.
It said on Thursday, March 25 the revenue was RM603.24 million compared with RM591.73 million. Earnings per share were 3.37 sen versus 2.45 sen.

KUALA LUMPUR: Gamuda Bhd's earnings rose 38% to RM68.03 million in the second quarter ended Jan 31, 2010 (2Q2010) from RM49.05 million a year ago, boosted by the strong performances in all its divisions.

It said on Thursday, March 25 that revenue was RM603.24 million compared with RM591.73 million. Earnings per share were 3.37 sen versus 2.45 sen.

Gamuda Bhd
(March 23, RM2.83)

Rise for 3 consecutive weeks

The temperature in Ho Chi Minh City (HCMC) is rising as the dry season nears.

KUALA LUMPUR: RHB Research Institute is maintaining its Underperform on Gamuda Bhd as its rich valuations have more than priced in the infrastructure company’s earnings buffer from its RM7.5 billion outstanding construction orderbook.

KUALA LUMPUR: Gamuda Bhd is buying a 60% stake in Vietnam's Tan Thang Company for US$82.8 million which has rights to undertake a property project in Ho Chi Minh City with an estimated gross development value (GDV) of RM6 billion.