Koh Brothers

Koh Brothers: Group announced $99.8m contract awarded by PUB for canal improvement works to Bukit Timah First Diversion Canal (between Bukit Timah Road to Holland Green), its 1st contract win for the year. The contract period of 36 months will commence on 18 Feb 2013, and the contract is the second phase in a three-phase expansion of the canal. The Group has an A1 grading by the Building and Construction Authority, and has previously done many other drainage system projects like the Marina Barrage, Singapore River, Punggol Waterway, and the most recent being the Changi Airport proposed retention pond. Company does not release its latest order book size, but stated its ongoing projects includes the construction of Downtown Line 1 Bugis Station, makeover of Geylang River ($37.8m) and Lincoln Suites. Company just announced its FY12 results 1 day before, which saw the share price come down by 3% after the release. Company trades at 7.9x trailing P/E, 0.8x P/B.