Following the recent announcement of the free 1 for 2 warrants, that exercise should be nearing approval and completion to go ex soon. Today is also an interesting day with RHB launching its 30 Jewels for smaller caps.
Their Top 5 picks include Tambun, Brahims, Instakom, Well Call and Cahaya Mata Sarawak.
Furthermore, the implementation of the LTE network means more towers will be built, especially for the new players which were recently awarded the spectrum. This only means there are more jobs in the pipeline for players like Instacom, which will enhance its future earnings.
On 20 May 2013, Instacom announces that the company had received and accepted a Letter of Award for the supply, installation, testing and commissioning of telecommunication network and infrastructure and engineering works in Sarawak. The value of this project to Instacom is RM205 million, which is
expected to contribute strongly to the company’s earnings and net assets for financial years ending 2013 to 2015.
This development follows on the heels of the company’s sterling Q1 results announced on 14 May 2013 when it posted revenue of RM30.210 million and profit before tax of RM6.828 million, marking significant respective increases of RM29.350 million and RM9.895 million against the previous corresponding period.
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