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Home » Latest Notice » FundTech Radar (HSSEB) - 28 Aug 2018
FundTech Radar (HSSEB) - 28 Aug 2018

Good morning.

 

Today, we feature a note on HSS Engineers Berhad in our FundTech Radar – 28th August 2018. HSSEB, through its subsidiaries and associates, is principally involved in the provision of engineering and project management services including engineering design, project management, construction supervision and building information modeling (BIM) services. HSSEB is also a pioneer of BIM.

 

Fundamental Stance

· A 2-year (FYE16-17) revenue and core PATAMI CAGR of 9.5% and 25.8% respectively since its listing in 2016.

· Its FY17 core PATAMI margin was up marginally to 10.4% (vs. 10.1% in FY16).

· Net gearing ratio rose to 0.13x as at 30 Jun 18 (vs. 0.11x at 31 Mar 18).

· Consistent dividend payment since its listing. Div. yield of 0.8% with div. payout of 25.8%.

· Could potentially benefit from the recent acquisition of the SPLASH by the Selangor State Government, through SMHB Engineering Group.

· Expecting reasonable performance in FY18 given the existing unbilled order book balance of RM630.8m.

· Currently tendering for about RM300m projects to boost its current order book.

· According to Bloomberg, there are 2 buy calls with a consensus target price of RM1.16.

 

Technical Front

Ascending Triangle formation breakout.

Resistances: 1.15/1.30/1.41

Supports: 0.87/0.80/0.72

 

The above information is extracted from CIMB Research Report. For the full research reports, outlook and disclaimers, please logon to your account on www.itradecimb.com.my and click on <Research> Tab under Malaysia.

 

This FundTech Radar report is intended for educational purposes only. It represents a preliminary assessment of the subject company, and does not represent initiation into CIMB's coverage universe. It does not carry investment ratings and CIMB does not commit to regular updates on an ongoing basis.

 

28th Aug 2018

Disclaimers: This distribution is by CIMB Investment Bank Berhad (“CIMB”) in Malaysia only. The views are our own as of this date and subject to change. No further distribution is allowed without our prior written consent. CIMB, its related corporations, affiliates and business partners make no recommendation, offer or invitation to transact in any securities, futures contracts or other instruments. Please make your independent evaluation, consider your own investment objectives and financial situation and consult your own professional advisers before participating in any transaction.

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