Ryobi Kiso: together with JV partner Phu Cuong Co., was awarded a $11.3m contract by the SSG Group, a leading real estate co in Vietnam. Contract is for foundation works for the SSG Tower in Ho Chi Minh.
Work will start in July 2011 and completion is expected in six months. Group has secured $35.2m in contracts since 1 April 2011 and net order book stands at $75.1m as at 31 Mar 2011. This compares with Ryobi’s 9MFYJun11 revenue of $92.2m...
Stock trades at 9.3X P/E.
NRA has a Neutral rating with TP $0.16, dated 23 May.
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