Lum Chang

Lum Chang: Won the construction for condo project Ripple Bay at Pasir Ris valued at $143.7m from MCL Land. Ripple Bay will comprise of total 679 units with 7 blocks including a carpark and other condo facilities. This is expected to be completed in 1H2015. This brings co's outstanding orderbook to $1.0b. Co currently trades at 7.2x P/E, peers Lian Beng at 3.2x and Chip Eng Seng at 3.2x as well.