Sharing idea from remisier
$ANEKA / 0226 (ANEKA JARINGAN HOLDINGS BERHAD)
*Aneka Jaringan*
*Briefing takeaways*
馃敺 Contractor that specialise in foundation works, usual competitors: Econpile, Pintaras
馃敺 Secured RM179m new wins in FY24 (FYE Oct)
馃敺 RM217m outstanding order book; RM203m Malaysia, RM14m Indonesia. Orderbook turnaround range between c.9-18 months
馃敺 Undertaking a foundation contract for AWS DC c.RM30-40m, need to complete the job within 5-9months
馃敺Tender book RM963m; RM926m Malaysia, RM37m Indonesia, Malaysia tenders mainly (>50%) in Klang Valley, the remaining are from Johor and Penang. Notable tenders include Penang LRT (RM30-40m), RTS CIQ basement and piling works (c.RM140m). Majority of job size range between RM30-40m
馃敺 Indonesia projects exclude material cost, project size typically smaller but margins higher
馃敺 GP margin guidance: Indonesia 20%, Malaysia 8-10%
馃敺 Revenue capacity at RM200m+ currently, gradually building up more capacity through capex for machinery. Mgmt keen to expand capacity in Indonesia, targeting RM10m capex in FY25
馃敺 Currently 70-80% capacity from internal machinery, c.20% rental machinery from external parties. Renting machinery is part of the method to increase capacity, but would result in lower margin for the additional jobs
馃敺 IJM is one of the main recurring clients