Seet notes that 80% of the company's order book is slated to be completed within the next 18 months.
Maybank analyst Jarick Seet is maintaining his “buy” call and 10-cent target price on ISOTeam after the company announced that it clinched $26.6 million worth of contracts on Jan 26. The latest wins, which range from painting to repair and redecoration works, brings ISOTeam’s order book up to $176.2 million.
“Management is seeing a faster pace of contract awards, especially from the government sector and expects more to come,” Seet writes in his Jan 27 report. Based on ISOTeam’s historical rate, the analyst estimates that another $20 million to $30 million worth of orders could come in March.
