Thursday, August 1, 2013

Hiap Hoe

Hiap Hoe: Group acquired 88.3m shares (14.9%) in Ley Choon for $14.5m through a placement issue of $0.1642 per share, 11.2% discount from the last closing price of $0.185. Hiap Hoe intends to enlarge and diversify its revenue streams over the next few years as the integrated property developer seek synergies and cost efficiencies in Ley Choon's underground utilities infrastructure and construction materials business. Notably, Ley Choon recently completed its second asphalt premix plant, which is the largest in Singapore by production capacity. Hiap Hoe currently trades at 6.3x trailing P/E and 1.1x P/B.

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