Boustead: subsidiary has been awarded a $23m contract to design and build a maintenance, repair and overhaul (MRO) hanger facility for Bell Helicopter Asia at the Seletar Aerospace Park. It has ~15k sqm spread across 2 floors and completion is expected in 2Q12. This is the 4th project that they have secured at the park including 2 for Rolls-Royce Spore and one for Hawker Pacific Asia. It is the 8th project secured since Jan ‘11...
The group’s total order book backlog stands at > $250m, vs FYMar11 revenue at $561m.
Stock trades at 10.1X P/E. KE Research has Buy rating TP $1.36, DBSV has Hold with TP $1.10.
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