BBR

BBR: won a $102.7m contract from the Singapore University of Technology and Design (SUTD) for Phase 1 construction of housing and sports facilities for its campus at Somapah Rd and Changi South Ave 1. The scope of works involves the construction of three 11-storey hostel blocks, two 11-storey faculty blocks, a sports complex and a multipurpose hall with basement car park and support area. Work will start on 20 Jun 2012 and be completed in Jun 2014, over two phases. BBR’s current order book stands at ~$658m, comprising mainly civil engrg and building contracts in Spore and Msia. This compares with FY11 revenue of $413m. The stock trades at 0.6x P/B, 3.9x P/E, and offers 3.9% yield.