Monday, April 2, 2007


Amresearch has uppgraded MRCB to BUY with target price of RM3.10.Currently the stock price is at RM2.18.
This is due to government approval of EDL (Eastern Dispersal Link) which cost RM1 bil.
The EDL is 8.5km from new JB CIQ to Tebrau highway, which then connects to the PLUS highway via Kempas. And of course there will be a toll and MRCB will manage it.
The project will double MRCB orderbook to RM3bil.
MRCB also eyeing other projects such as Bakun power transmission EPC, Penang Monorail, Madinah transport hub in KSA and land sales around KL Sentral.
Personally, I feel that MRCB is a good GLC company and buy on dip if opportunity persists.
52 week hi:RM2.18 low:RM0.52 (but don't bother to wait the price to dip below RM1.00.)


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