Noting Moya’s intentions to reduce its non-revenue water (NRW) by more than 50% in 2020, Seet thinks this could further boost the group’s revenues and margins as less cost would be needed compared to a new green field project.
SINGAPORE (May 2): RHB is maintaining its “buy” call on Moya Holdings Asia with an unchanged target price of 15 cents after the group reported a “sterling” and “superb” 1Q18 set of results, in the research house’s view.
In a Wednesday report, lead analyst Jarick Seet says he expects 2018 to be a stellar year for Moya with acquisitions and the extension of expiring concessions in the pipeline, particularly with the full accretion of Aquatico’s numbers to drive the group’s earnings growth ahead.
