Hiap Seng: awarded a contract worth ~$19m for the provision of structural steel erection, piping and painting works by Shell Eastern Petroleum. Work is to start in Mar 2012 and be completed by 2013.
Hiap Seng’s latest order book stands at $214m, and compares with its FYMar11 revenue of $188m.
Stock currently trades at 15.4X P/E.
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