This likely includes a mechanical, electrical and instrumentation control and automation portion of the Tuas Water Reclamation Plant contract won by the group in Jun 2020, he says.
William Tng of CGS International has kept his 'add' call on Sanli Environmental. However, citing threats from higher energy costs, he has cut his target price from 47 cents to just 33 cents.
In his April 23 note, Tng says that Sanli's 2HFY2026 earnings will be negatively impacted by higher labour costs and raw material price increases for some of its legacy Covid-era projects nearing completion.
