Aug 18, 2010

GAMUDA Target Price RM4.35- DBS

Gamuda BUY RM 3.35 
Price Target : 12-month: RM 4.35

•  RM36bn MRT project, a key milestone catalyst easily doubling orderbook with another 10 years earnings visbility 
•   Excellent proxy to Vietnam's positive long term structural shift in property market with RM16bn GDV (12% of SOP)
•   Resolution on Selangor State Water restructuring soon could see Gamuda reaping >RM600m in cash or RM0.28/share



by DBSVickers Securities 16/08/2010