Friday, August 17, 2012
Thakral: Has entered into agreements with GLNG Operations (GLNG) to build another 56 houses for lease to GLNG which will cost A$33.6m. These come after the recent successful completion of the delivery of the first 45 houses for lease to GLNG under Phase One of the GLNG housing project which was leased on a long-term basis to GLNG for occupation by its executives in Queensland. Co will fund the project through internal funds of A$10m and the remainder through loans. Co intends to sell approx A$5m in the project at a later date. Thakral currently trades at approx 16.5x P/E.