PETALING JAYA: Gadang Holdings Bhd
could face challenges in replenishing its orderbook, having been unsuccessful in securing significant construction contracts for a few years.
TA Securities in a report said Gadang had not bagged a major construction job since August 2017.
“The outstanding construction order book declined to RM700mil from an estimated RM800mil a quarter ago. This translates into a cover ratio of 1.5-times 2019 construction revenue and could provide earnings visibility for the next two years.”
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