KKB shares up today (8th July, 2011)

Market seems to be very positive these few days, when KKB share price also rose  three sen to RM1.96 with 13,000 shares traded.

This is due to the company secured a RM70 million contract from OM Materials (Sarawak) Sdn Bhd for the proposed earthworks package for OM Sarawak Plant at Samalaju Industrial Park.

According to the OSK research, they will maintain a Buy call on KKB with a fair value of RM3 based on 10 times FY11EPS. The suggestion was made, as they still
remain positive on KKB and expect more contract announcements to flow through post state elections, and remain convinced on their future prospects which remain supported by their solid fundamentals, strong track record and undemanding valuation.