*AWC Bhd (AWCF MK, Not Rated, TP: N/A)*
Trading Idea
AWC has a strong outstanding orderbook of MYR1.15bn as at 1 Jan 2017. We believe the company is moving in the right direction to win more contracts in the future, driven by synergies across all its divisions, ie facilities, environment and engineering. Its STREAM AWCS system provides robust margins for the group with a strong presence in Malaysia, Singapore, the UAE, and Hong Kong. Based on 2018F P/E of 13x (below the 3-year historical forward sector average of 15x), we value AWC at *MYR1.62*. We do not have a rating on the stock.
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