Company Overview and News

Engtex looks well placed to benefit from infrastructure, piping projects

2018-09-05 theedgemarkets
Engtex Group Bhd (Sept 4, RM1) Maintain hold with a lower target price of 88 sen: Engtex Group Bhd’s net profit for second quarter of financial year 2018 (2QFY18) declined 54% year-on-year (y-o-y) to RM6.3 million due to higher raw material costs, escalated operating costs, and higher interest costs. Quarterly revenue was flat at RM286.1 million as higher contribution from manufacturing and hospitality cushioned the decline in property development sales.

No longer a pipe dream?

2018-08-21 theedgemarkets
FINALLY, the decade-long water impasse in Selangor looks like it is nearly over as parties owning Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash) have indicated their acceptance of a RM2.55 billion offer by the state for the water concessionaire’s assets.

Stocks of water pipe makers rise as Selangor govt offers for Splash

2018-08-03 theedgemarkets
KUALA LUMPUR (Aug 3): Shares of water pipe manufacturers rose today as the Selangor government announced it would offer RM2.25 billion to take over Syarikat Bekalan Air Selangor Sdn Bhd (Splash), in a move towards solving the impasse over the state's water assets.
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Stock With Momentum: Engtex Group Bhd

2018-07-31 theedgemarkets
Engtex Group Bhd (+ve) TRADING of shares in Engtex Group Bhd (fundamental: 0.8/3, valuation: 1.4/3) triggered our momentum algorithm yesterday for the first time this year. The company saw 5.94 million shares traded, exceeding the counter’s 200-day average of 1.04 million. The stock fell two sen or 1.77% to RM1.11, leaving it with a market capitalisation of RM483.66 million. Engtex Group was last traded at 0.

Challenging outlook seen for construction in 2H18

2018-07-18 theedgemarkets
Construction sector Maintain neutral: Post-14th general election, the new Pakatan Harapan government embarked on a review of all megaprojects, as promised in its election manifesto. The Kuala Lumpur-Singapore high-speed rail (RM60 billion to RM70 billion) and mass rapid transit Line 3 (MRT3) (RM40 billion) were shelved shortly thereafter. Although there were reports regarding the revival of these projects, we reckon that chances are slim in the near term.
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Engtex is strong contender for RM1bil water pipe jobs

PETALING JAYA: Engtex Group Bhd could emerge as a strong contender for some RM1bil worth of water pipe replacement contracts up for grabs in Selangor, RHB Research said.

All eyes on SPLASH deal

2018-07-05 theedgemarkets
Water treatment and services sector Maintain neutral: The July 4 deadline to resolve the water impasse in Selangor that was set before the 14th general election lapsed yesterday. On Tuesday, new Water, Land and Natural Resources Minister Dr A Xavier Jayakumar pledged to conclude the takeover of Syarikat Pengeluaran Air Sungai Selangor Sdn Bhd (SPLASH), the last of the four water treatment plant concessionaires to be brought under the state.
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Engtex seen to benefit from infrastructure, piping projects

2018-06-13 theedgemarkets
Engtex Group Bhd (June 12, RM1.03) Downgrade to hold with a lower target price (TP) of 99 sen: Engtex Group Bhd’s new steel pipe plant in Kuantan and steel mill plant in Melaka commenced operations with utilisation rates of 2.7% and 10% respectively. The combined revenue contribution from both plants amounted to RM8.2 million or 5.2% of total revenue in first quarter of financial year 2018 (1QFY18).

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