Boustead

Boustead: Group together with consortium partner, GE Oil & Gas, secured contract from Brunei's national power producer, Berakas Power Co, to deliver a combined system that recovers waste heat from gas turbines, converting it into 14MW of extra net electricity without using fuel or water or producing additional CO2 emissions. Further contract details were not provided; Orderbook backlog currently stands at $390m. As of its last earnings report (21 May), Boustead reported order book backlog of $378m. Based on Bloomberg consensus, 12-month TP of $1.80 for the stock implies a 29% upside based on its closing price of $1.3950.