$WASEONG / 5142 (WAH SEONG CORPORATION BERHAD) Just realised that despite taking 2 years, this target price was HIT.

A quick update to those who's still invested:

- Orderbook is currently RM3.1b
- Tenderbook RM7b
- EACOP is 40% recognised and coating activity begins Q2 2024 until end of 2025
- YINSON is 50% recognised, will be completed this year
- Existing Qatar work is ongoing and will be completed this year. Currently Wasco is awaiting award for the next job following completion of current job

All in all, the company continues to be busy and keeping high orderbook despite high quarterly revenue, which means they keep winning projects to replenish orderbook.

The stock is still trading at below 10x forward PE of analyst consensus earnings. However, I am taking some money off the table here, it's been a profitable investment.

@zhexiangxd @terencekhong @cwleee @YvonneChong