Ong views these developments positively in helping Civmec replenish its A$821 million order book, as at March 31.
Maybank Securities’ Eric Ong has maintained his “buy” call on Civmec (SGX:P9D
) with an unchanged target price of $1.05 following strong contract wins for the Australian-based engineering company.
In his report dated July 2, the analyst notes Civmec’s recent contract wins valued at A$174 million ($157.06 million). This follows scope extensions for fabrication, manufacturing, construction and maintenance work across a range of sectors in Australia.
