External broker reports(aggregated public sources), TA Securities Holdings Berhad

TA Securities Holdings Bhd

TA Securities Holdings Berhad (TASH) was incorporated in Malaysia on 1 July 1973 and is a wholly-owned subsidiary of TA Enterprise Berhad which is listed on the Main Market of Bursa Malaysia Securities Berhad (BMSB). Currently, the company has an issued and paid-up share capital of RM250 million.

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External broker reports(aggregated public sources)

Equity Bottom-Up

<p>First Construction Job Win in FY22 GADANG’s wholly-owned subsidiary, Gadang Engineering (M) Sdn Bhd, has secured an RM100.3mn subcontract works for Central Spine Road (Package 2) from Binary Vista Sdn Bhd. The subcontract works include demolition, site clearance, earthwork, and an access bridge to Kuala Berang, Terengganu. [...] Assuming a gross margin of 10%, the project is estimated to generate RM4.0mn of net earnings throughout the construction period. With this new job win, GADANG’s outstanding order book is estimated at RM525.0mn, translating into 1.4x FY21 construction revenue. [...] Required Rate of Return of 7% is defined as the yield for one-year Malaysian government treasury plus assumed equity risk premium.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

First Construction Job Win in FY22 GADANG’s wholly-owned subsidiary, Gadang Engineering (M) Sdn Bhd, has secured an RM100.3mn subcontract works for Central Spine Road (Package 2) from Binary Vista Sdn Bhd. The subcontract works include demolition, site clearance, earthwork, and an access bridge to Kuala Berang, Terengganu. [...] Assuming a gross margin of 10%, the project is estimated to generate RM4.0mn of net earnings throughout the construction period. With this new job win, GADANG’s outstanding order book is estimated at RM525.0mn, translating into 1.4x FY21 construction revenue. [...] Required Rate of Return of 7% is defined as the yield for one-year Malaysian government treasury plus assumed equity risk premium.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Gadang Holdings

Ends Contract Drought