Lian Beng

Lian Beng: has secured a works contract worth $117m, for the Skies Miltonia condo at Yishun, comprising 8 blocks of 13 storey with penthouse and one block of 3 storey residential building (total 420 units). The contract period shall be 33 mths and is expected to commence Mar ’13. This brings the group’s order book to c.$664m, which will provide a sustainable flow of activity through to FY16. The stock trades at 6.1x P/E, 1.04x P/B.