Swee Hong

Swee Hong: Company issued a profit warning for 2Q13 ended 31 Dec 2012. The expected loss is attributable to, 1. decline in revenue from our operations; and 2. significant costs increases. Swee Hong is principally engaged in civil engineering works and micro-tunnelling works in Singapore in which they act primarily as the main contractor. Infrastructure construction services includes roads, bridges, flyovers and canals. The Company's major customers are mainly government and government-related bodies of Singapore. Swee Hong's share price is up slightly at 2% since the start of the year. Comparing to peers within the engineering and contruction sector: Yongnam, Koh Bros, KSH; have been seeing 52-wk highs of late. Company is trading at 15.7x P/E, vs Yongnam at 6.6x, Koh Brothers at 10.0x and KSH at 6.1x.