TiongSeng & CDL

TiongSeng & CDL: Tiong Seng signs LOI from CDL's subsi Millennium & Copthorne for construction of 8 condo blks of 5-stories each, total of 150 units at the Glyndebourne Condo in Dunearn. Contract is worth $104m. Co’s order book is est at $1.2-1.25b. Our in house maintains Buy at TP$0.33 on contract win.