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apple developer account for sale :Record earnings expected for Serba Dinamik, says Kenanga


KUALA LUMPUR: Kenanga Research believes Serba Dinamik Holdings Bhd is poised for a rebound as it anticipates another record-breaking quarter ahead."Based on SERBADK’s seasonally strong 4Q, coupled with the group’s work order flow trend, we are anticipating its upcoming 4QFY20 to post yet another record breaking earning of >RM150m in core PATAMI (versus RM148m in 3QFY20, and RM141m in 4QFY19)."This means that the results which are due to be released by end-Feb 2021 are highly likely to exceed our earnings expectations," said Kenanga in a note.The research house expects the group's cash flows to improve in FY21 in tandem with order-book recognition while net gearing is expected to be reduced to about 0.6x from about 0.9x currently, post-completion of its private placement.It said the tremendous order-book growth experienced by the group last year should improve cash flow going forward as the projects are expectedly to start works in FY21.Serba Dinamik's order book had grown from about RM10bil at the start of the year to about RM18.7bil currently."With only ~40% of its order-book exposed to the oil and gas sector, we see no reason for the company to not continue its consistent track record of earnings growth," said Kenanga.The research house reiterated "outperform" on the stock with an unchanged target price of RM2.50, egged to price-earnings of 15x on FY21 forecast earnings per share.It left its FY20-21 estimates unchanged but highlighted the possibility of an earnings upgrade post-4QFY20 results.

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