LianBeng: DMG initiated a note adding it to house’s small/mid cap portfolio with a TP$0.61 and comments that house will buy 650k shares at $0.32. Co is to be a key beneficiary of current building boom in public sector and will see earnings from 3 property devs it has stakes in...
Co is expected to trade at an attractive fwd P/E of 3.6x. As of most recent 30 Nov results, co had an order book of $762m with orders till FY2013 and posted a 1H2010 rev of $249.2m.
*Note that DMG's purchase is on paper only for their paper portfolio
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