KUALA LUMPUR: AmResearch has maintained its Buy on Benalec
Holdings with a fair value of RM1.31 a share, which pegs the stock at a 45% discount to its estimated sum-of-parts (SOP) value, it said on Tuesday.
The group said that its unit Benalec Sdn Bhd, has secured a RM204mil contract (excluding rock revetment works) from Oriental Boon Siew (M) Sdn Bhd. Benalec will undertake the construction, completion & maintenance of coastal reclamation, as well as associated works for Ultra Green under Phase 2A, Phase 3A and Phase 4 in Malacca.
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