KUALA LUMPUR: MIDF Research is maintaining its Buy call on Protasco Bhd
with an unchanged target price of RM2.90 based on the financial year 2015 sum-of-parts (SOP) valuation.
Jabatan Kerja Raya recently granted Protasco’s subsidiary, HCM Engineering Sdn Bhd a contact worth RM21mil for the construction of overtaking lanes in Sarawak. So far this year, Protasco has completed jobs worth RM109mil, amounting to 36% of its RM300mil in new jobs.
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