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CGS International maintains 'add' on Ever Glory, adjusts target price to 90 cents following bonus issue

The Edge Singapore
The Edge Singapore • 2 min read
CGS International maintains 'add' on Ever Glory, adjusts target price to 90 cents following bonus issue
CEO and executive director Xu Ruibing / Photo: Albert Chua of The Edge Singapore
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CGS International's Then Wan Lin and Lim Siew Khee have maintained their bullish view on Ever GLory United Holdings after the company's latest contract wins announcement, which brings the M&C contractor's total order book closer to the landmark level of $1 billion.

On May 18, the company announced it won contracts worth $230 million from various clients such as the Land Transport Authority to build a charging system for electric buses; mechanical and electrical works for a new hospital office building at Macalister Road, and also for the Tengah General Hospital.

In addition, Ever Glory won a contract from Resorts World Sentosa as well.

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