Weak billings in 1H21; promising job outlook
■ 1HFY21 results were below expectations; core net profit fell 25.3% yoy.
■ FMCO and EMCO disruptions will weigh on 2HFY21F, but we are optimistic
of a recovery angle driven by MRT 3 and other potential contract wins.
■ Add retained; lower TP of 80 sen. Share price presents a buying opportunity.