Rotary

Rotary: Awarded $60m worth of EPC contracts from oil & gas and petrochemical companies in 2Q, which include a $30m contract to provide electrical and instrumentation works and supply of materials for an entire plant in Jurong Island. This brings total contracts secured by the group in 1H13 to ~$400m. Group highlighted the robust demand for EPC works for storage and distribution infrastructure, and continue to focus on Middle East and Asia to build up its order book. Based on its last closing price of $0.525, Rotary trades at 1.5x P/B.