Wednesday, April 13, 2011

UnitedEngineers

UnitedEngineers: Co has been awarded tender for land at Bendemeer Rd/Whampoa East for $543m by HDB. The site is approx 18.6k sqm with lease of 99 yrs and is within walking distance from Boon Keng MRT. Co intends to develop the site into a waterfront condo of 700 units. The acq is to be financed by internal funds and borrowings. Co has current P/E of 3.6x

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