Azam Jaya is principally an investment holding company and through its proposed subsidiaries (collectively, "Azam Jaya Group"), Azam Jaya Group is principally involved in the provision of construction services.

seems like they're the most dominant in sabah.

Same like KTI Landmark?

Interesting .. name also very local

So far no TP rite?

Subscribed. I think sabah got potential.

Gonna pass any new construction/property related ipo

Any reason? Would like to understand the rational.

The list of projects they are working on. Mostly road construction projects

https://www.azamjaya.my/projects/

So it's Sabah focus based construction company??

Remember government give such huge allocation for S&S for infrastructure projects...

Since this company involved more on road construction related.....

if you're a local there, you should know that this company is a proxy to .....

Not sure whether Sabah government will buy in.

Waiting for Megah Holding IPO to be listed.

950

let's go

Heuheuheu we shall see

.....

Order book 1.4 billion until 2028,

Very high tp by m+, 1.47 💀💀

JACKPOT WAITINGG....

AZAM >> FAIR VALUE RM 1.47

Azam Jaya Berhad - Azam Jaya – Determined to Succeed

MalaccaSecurities
Publish date: Tue, 22 Oct 2024, 10:22 AM
Through its wholly-owned subsidiaries, Azam Jaya Berhad (AZAMJAYA) is principally involved in the provision of construction services where it is mainly involved in the construction of road infrastructure in the State of Sabah.
We project 3-year earnings CAGR of 25.1%, with core PAT expected to reach RM29.2-50.9m over the next three years, largely supported by the strong orderbook of RM1.45bn, translating to a cover ratio of 5.2x, which will provide earnings visibility over the next 3-5 years, coupled with the robust construction scene in Sabah region and rising allocation to Sabah in the recent Budget 2025.
We assign a fair value of RM1.47 per share, representing an upside of 88.5% against to the IPO price of RM0.78. This valuation is based on a P/E ratio of 18x, applied to the FY25f EPS of 8.14 sen. Although the ascribed P/E is below the Construction & Engineering sector's peer average forward P/E of 19.2x and average historical P/E of 24.0x, we believe it is justified given AZAMJAYA's smaller market capitalisation of RM390.0m.

Crazy

hopefully i can get it this time. seems like a lot of people not interested in this IPO.