Outstanding order book a boost for Sapura

TheStar Fri, Jul 23, 2021 09:20am - 2 years View Original


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.

“We recall that Sapura’s first quarter of financial year 2022(Q1FY22) normalised loss of RM49mil (excluding RM48mil one-off items for unamortised borrowing costs and de-designation of hedging instruments) could have turned around to a net profit of RM35mil,” it said.

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