Lian Beng: has secured the main contract and earthworks contract from Tripartite Developers for a proposed condo devt comprising 10 blocks of residential flats at Flora Drive (Hedges Park). The Contracts are worth approximately $150.7m, and brings the orderbook size to $812m. This compares with 9M11 revenue of $380m...
Work is expected to commence in Jun 2011 and are due to be completed by Aug 2014.
Stock currently trades at 4.3X P/E.
DMG has a Buy rating with TP $0.67.
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