Boustead: Energy-related Engrg Division has secured approx $16.0m in contracts relating to design, process engrg and construction of systems for oil refineries in Iraq, Msia and Saudi Arabia. No impact on co's earnings FY ending 31 Mar 2011…
Our in-house rates Buy with TP$1.39. Co is mainly in business of infrastructure-related engrg relating to O&G, water and real estate and other business of geographical info systems, with recent news of co’s lapsed acquisition offer for Big Box. Currently trades at P/E 9.27x.
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