OKP: Secured a $4.9m contract to build sewers from Tuas Ave 14 to 12 for JTC. Work is to start on 19 Aug and to be completed by Jul12.Scope includes supply, laying, installation and completion of sewer pipes and related works.
New contract brings its order book to $386.5m vs annualized FY11 rev of $122.3m, underpinning earnings till 2014, while balance sheet remains strong, with grp in a whooping net cash position of $97m. Mkt has unanimous Buy Call on stock with $0.89 TP.
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