Tiong Seng

Tiong Seng: Co has been awarded a contract for $189.5m from United Venture Dev for the proposed condo development at Bedok. This is likely to be the site that United Venture won at Bedok Reservoir Rd with a top bid of $320m, to be within walking distance to the future Bedok Town Park. Co as of last reported results on 11 Nov had an order book of approx of $1.0b over the nxt 12 to 30 mths. This brings its order book to around $1.2b. The construction co has a current P/E of 6.0x with P/B of 0.8x