PEC: Signed a $45m contract with JGC Corporation (JGC) to provide steel structure erection, piping and electrical & instrumentation works for a refinery in Sg for an oil major. This bring co's order book to over $300m. PEC now trades at 5.8x current P/E with Rotary at 6.2x.
With the recent fire at Pulau Bukom, PEC and Rotary may have opportunity to secure contracts with Shell, both having secured previous contracts from the oil major before.
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