Today's stock selection | Asset value is not fully revealed, Maraca has raised its target price
Brokerage: Galaxy International Securities Investment Advice: Target Price for Increase: RM1.20 Closed Price: 91 Sin (as of July 25) Earnings per Share: 4.9 Sin (Estimated in FY2025) P/E ratio: 18.56 times (Estimated in FY2025) Dividend yield: 4.58% (Estimated in FY2025) Although the share price of Maraka (MALAKOF, 5264, Main Board Utilities) has rebounded from a low level, we believe that there is still potential for upward, because the value of some assets has not yet been reflected in the current stock price. These assets include mini-hydro and waste renewable energy (WTE) plant projects, holdings in E-Idaman waste contracting companies, and potential renewal of expired or imminent power plants. The value of the above projects is at least RM1.2 billion, which is approximately equal to 25 cents per share. At the same time, the company is interested in participating in the bidding for the Energy Commission's new power plant and has received preliminary notices from two natural gas power plants, totaling 2.8 gigawatts (GW)