WASEONG above $0.98 by 30-Jun-2017

  • target price: $0.98 ( 8.89 % in 100 days)
  • price when predicted: $0.90
  • current price: $0.96
  • 453 days pass target date.
heading RM1.00 ?
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WASEONG TP RM 2.00, WASEONG’s pipe coating prospects remain positive on the home turf. Some of the jobs include the 800-km pipe manufacturing and pipe-coating jobs for the Multi Products Pipeline (MPP) project connecting Pengerang to Perlis as well as the 600km pipe manufacturing and pipe coating jobs for the Trans Sabah Gas Pipeline (TSGP) project, which could be awarded soonest by 1H18. Note that both the projects are owned by Suria Strategic Energy Resources Sdn Bhd (SSER), a special purpose vehicle owned by the Ministry of Finance with China Petroleum Pipeline Engineering Co (CPP) being the main contractor. We believe WASEONG stands a good chance to win the projects, being the only API certified local pipe manufacturer to compete with Chinese contractors.
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