Tag Archive | "KSH Holdings"

KSH Holdings Secures Mt. Alvernia Hospital contract

KSH Holdings: Secures Mt. Alvernia Hospital contract

KSH Holdings announced that it has secured a S$49.9m construction
contract from Mt Alvernia Hospital for additions and alterations to the hospital.
We judge that the market would be mildly positive on this contract win,
which brings the order book to an estimated S$385m. This project is
expected to begin on 6 Oct 2011 and will last for 23 months. At this juncture,
we believe that KSH has the capacity to take on two to three large contracts
(>S$100m) and take its order book to S$600-S$800m. Management is
likely tendering for contracts actively currently and we expect more contract
wins ahead. Maintain BUY rating with a fair value of 28 cents (60% discount
to RNAV).

OCBC securities

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