OKP: DBSV initiates coverage with buy & TP of $0.70. Notes that the Co. is a key beneficiary of steady investments in public transport infrastructure projects in SG with net order book in access of $200m vs rev 129m FY09. Expect steady FY 09-11 net profit CAGR of 12%. Co. has net cash of $0.33 and secure dividend yield of 6.3%....
DBSV has been tipping infrastructure/construction plays as one of their most bullish sector, recommending recently Tiong Seng, Pan United and Tat Hong as their top picks within the construction industry.
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