TTJ

TTJ: clinches new projects for structural steelworks on Jurong Island, amounting to ~$36m. One of these projects will involve the supply, fabrication, delivery and installation of structural steelworks for the SLNG Terminal’s secondary and tertiary jetties. Another project pertains to the supply, fabrication and installation of structural steelworks for the third tank and piperacks at the terminal. Both projects were awarded by repeat client Samsung C&T. TTJ has also secured a contract for another project which involves the supply, fabrication, delivery and installation of structural steelworks for a new Methionine Plant on jurong Island which is set to be operational by 3Q14. TTJ’s orderbook now stands at $162m, vs FYJul12 revenue of $143m. The stock trades at 4.8x P/E, 0.9x P/B and offers 3.5% yield. There are no analyst ratings available.