CNA

CNA: Clinched two contracts worth $9m in aggregate for works at Singapore Changi Airport. This includes a term contract to upgrade the building management system in Terminal 2 and VIP complex, both expected for completion by 26 Mar 2015, as well as a 4-year contract extension for the operations and comprehensive maintenance of the integrated building management system till 31 Dec 2017. The new contracts brings the group's orderbook to ~$102.3m. Following the recent years where the group specifically carved a niche as the regional specialist for airport-related building systems, management is now confident that its strong foothold and current business leads will translate to new wins for 2014. At current price of $0.138, CNA trades at 0.8x P/B.