The first is from the successful tender of Upper Thomson Road Parcel A via government land sale (GLS) by Wee Hur itself and its controlling shareholder. The construction contract is likely to add $290 million.
Natalie Ong and Lim Siew Khee of CGS International have kept their "add" call on Wee Hur Holdings and with prospects of more construction orders in the pipeline, they have raised their target price for this counter from 91 cents to 95 cents.
In their Nov 25 note, the analysts observe that Wee Hur orderbook has been boosted with three projects, bringing its total to $950 million by end of this year.
