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
