Ley Choon

Ley Choon: has won new contracts worth a total o f$19.5m. These include 5 contracts worth a combined $14.6m from PUB for the supply and installation of water service connections and replacement of watermains and network enhancement projects. Additionally the group has secured a $4.9m contract from Hyundai Engineering & Construction for asphalt pavement works in the construction of PSA container berths and stacking yards at Pasir Panjang Terminal, scheduled for completion in 4Q13. YTD, Ley Choon has won $35.7m worth of public and private sector projects, bringing the orderbook to $146.2m, which lasts till 2015. Ley Choon trades at 1.3x P/B. P/E is not meaningful due to one off losses arising from the RTO (Ley Choon was formerly known as Ultro Tech) that took place in 2H12.