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Wah Seong sells idle Singapore asset for RM40m

KUALA LUMPUR (Jan 5): Wah Seong Corp Bhd is selling a leasehold property in Pandan Road, Singapore for S$13 million (RM40.1 million) as part of its initiative to unlock idle assets and improve its working capital position. The piping expert said its indirect wholly-owned subsidiary in Singapore, WS Engineering & Fabrication Pte Ltd is selling the 13,734 sq m land together with buildings erected on it to Swee Joo (Pte) Ltd. ....

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Wah Seong to sell Singapore estate for S$13mil

KUALA LUMPUR: Wah Seong Corp Bhd is disposing of a leasehold estate in Singapore to Swee Joo (Pte) Ltd for S$13mil. ....

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Contract wins to boost Wah Seong's earnings

PETALING JAYA: Wah Seong Corp Bhd is expected to record better earnings in 2022, on the back of strong contract wins and easing business restrictions. ....

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Wah Seong wins RM162mil job

KUALA LUMPUR: Wah Seong Corp Bhd has won a contract to supply of oil and gas processing and compression modules for a project in Gabon, Africa. ....

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Maybank IB maintains 'buy' on Wah Seong on better earnings prospects

s new contract win, Maybank Investment Bank Research is positive over the group s improving prospects and opportunities ahead.
Valuations are still undemanding (6-8x FY22-23 PER), for the market has yet to fully embrace the strength of the earnings turnaround outlook, especially for its Qatari and Malaysia prospects, which would feature prominently from FY22, it said in a note.
The research house, which has a buy call and target price of RM1.20 on Wah Seong, maintained its earnings estimates on epectation of its orderbook growing to RM2bil by FY21.
Winning the Qatar pipe-coating jobs would be a key catalyst, for they would offer a similar earnings impact to the completed NordStream2 project. ....

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