Tiong Seng

Tiong Seng: Awarded a $210m contract from Wheelock Properties (Singapore) to design and build the Panorama condominium comprising six towers totaling 698 residential units. This is the group’s maiden contract of the year, and lifts its order book to a robust $1.3b, with revenue visibility stretching up to FY17.Tiong Seng boasts one of the largest order books amongst its construction peers in S'pore. At $0.21, the group trades at 6.5x forward P/E compared to the peer average of 6.6x.