Chip Eng Seng

Chip Eng Seng: secures a $210m contract by HDB for building works at Bukit Batok, comprising the construction of 5 blks of residential buildings with 1,232 dwelling units and other community facilities. The construction period is ~42 mths. This brings the Group’s outstanding order book to $711m, vs FY11 revenue at $360m. The stock trades at 4.6x P/E, 0.75x P/B.