SIAS Research in a May 20 research report says: "Moya Asia Ltd (Moya Asia; previously known as Moya Dayen Ltd) announced an impressive set of turnaround 1Q FY2011 results, with revenue rising $10.2 million y-o-y to $12.0 million.
"The increment was largely due to progressive recognition of the Cambodian projects which were secured over the past one year. 1Q FY11 revenue and PATMI represent a substantial 44.4% and 59.8% of our previous forecasts respectively. Balance sheet remained firm with $27.1 million cash.
"In view of the healthy order book (end 1QFY2011: $51 million), stable gross margin and effective cost management we are revising our FY2011F revenue and PATMI upward to $39.7 million and $3.94 million respectively. Intrinsic value of 15 cents. MAINTAIN INCREASE EXPOSURE."
"The increment was largely due to progressive recognition of the Cambodian projects which were secured over the past one year. 1Q FY11 revenue and PATMI represent a substantial 44.4% and 59.8% of our previous forecasts respectively. Balance sheet remained firm with $27.1 million cash.
"In view of the healthy order book (end 1QFY2011: $51 million), stable gross margin and effective cost management we are revising our FY2011F revenue and PATMI upward to $39.7 million and $3.94 million respectively. Intrinsic value of 15 cents. MAINTAIN INCREASE EXPOSURE."
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