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KUALA LUMPUR, March 27 (Bernama) -- Hong Leong Investment Bank Bhd (HLIB) sees Solarvest as the prime beneficiary of two large scale solar (LSS) programmes, the LSS5 it secured in Seberang Perai, Penang worth RM103.1 million and the rollout of the LSS6 programme over the next 24 months.
The Seberang Perai job is an engineering, procurement, construction and commissioning (EPCC) contract for a solar photovoltaic energy generating facility while the LSS6 involves a developer as well as EPCC works.
In a research note, HLIB said the EPCC value for the three LSS programmes could total RM15 billion to RM18 billion, which would lengthen the company’s order book growth cycle.
It said the latest contract win in Seberang Perai comes hot on the heels of last week’s contract award, bringing Solarvest’s outstanding orderbook to RM1.38 billion.
“The company’s orderbook has grown by 57 per cent the past three months buoyed by LSS5 EPCC contract cycle.
“We continue to foresee orderbook growth opportunities in the near term from the LSS5 programme,” it said. It maintains a “Buy” on the counter.
-- BERNAMA
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