External broker reports(aggregated public sources), Public Investment Bank Bhd

Public Investment Bank Bhd

Public Investment Bank Berhad provides investment banking services. The Company offers corporate finance, banking, securities financing, capital market, treasury, and advisory services.

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Reference is made to the previous announcements made by WCT on the acceptance of the LoA issued by PNB Merdeka Ventures SB in respect of the main contract work for a shopping complex jointly by its wholly owned subsidiary, WCT and TSR Capital (TSR) and the incorporation of WCT TSR SB in the equity ratio of 51:49 to undertake and complete the contract.</li><li>We have gathered that there would be no material impact to WCT’s gearing and earnings from this development.</li><li>Thus, we maintain our Outperform call on WCT with an unchanged SOP-based TP of RM0.50, pegged at 15x PER given WCT’s competence within the infrastructure construction space.</li></ul><p><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></p>

Reference is made to the previous announcements made by WCT on the acceptance of the LoA issued by PNB Merdeka Ventures SB in respect of the main contract work for a shopping complex jointly by its wholly owned subsidiary, WCT and TSR Capital (TSR) and the incorporation of WCT TSR SB in the equity ratio of 51:49 to undertake and complete the contract.We have gathered that there would be no material impact to WCT’s gearing and earnings from this development.Thus, we maintain our Outperform call on WCT with an unchanged SOP-based TP of RM0.50, pegged at 15x PER given WCT’s competence within the infrastructure construction space.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.

WCT Holdings Berhad - Took Over PNB 118 Mall Job