Civmec - Lim & Tan Securities 2024-07-16: Change Of Domicile A Positive Catalyst

• Civmec (SGX:P9D) continues to maintain a strong presence across all operating sectors, backed by stable margins and a high-quality order book of A$821mln. The recent addition of permanent facilities in Port Hedland will provide ample opportunities across the maintenance and capital works division.
• - Read this at SGinvestors.io -

On track with change of domicile.

• Civmec has received a court order granting Civmec to convene a shareholders’ scheme meeting for the proposed change of domicile from Singapore to Australia. The EGM will be held on 1’Aug 24.
• The change in domicile is expected to provide several benefits for Civmec, including:
  1. - Read this at SGinvestors.io -
  2. tendering opportunities as part of Australia’s sovereign defence industrial capability, and
  3. access to capital to fund future growth.
• Being an Australian incorporated company will provide opportunities to close the valuation gap between Civmec and its Australian peers. We note that one of its closest peers, Monadelphous Group, trades at 21x P/E and 2.8x P/B.

Robust orderbook at A$821mln.

• Read more at SGinvestors.io.

Above is an excerpt from a report by Lim & Tan Securities Research.
Clients of Lim & Tan Securities may be the first to access the full PDF report @ https://www.limtan.com.sg/.

Read also LIM's most recent report:
2024-09-16 Civmec - Abundance Of Opportunities.

Price targets by other brokers at Civmec Target Prices.

Listing of research reports at Civmec Analyst Reports.

Relevant links:
Civmec Share Price History,
Civmec Announcements,
Civmec Dividend Payout Dates & Corporate Actions,
Civmec News