Boustead: Secured $23m in contracts from O&G and petrochem industries. They involve the production and construction of largescale process systems for refineries and gas processing plants…
This is on the back of sustained recovery of crude oil prices and with OPEC set to cut supply (according to Oil Movements), prices could remain at a relatively higher level for 2H11. This brings the contracts secured by their Energy-Related Engineering division to over $55m for FY12. Overall, the group has secured over $220m in contracts since January. Their order book backlog stands at $275m…
Stock currently trades at 9.7X P/E. Recommendations two weeks ago from KE was Buy with TP$1.36 and DBSV was Neutral with TP$1.10.
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