Wee Hur was recently awarded a new $236.4 million build-to-order (BTO) project. The BTO project is expected to last till 4Q2029. Wee Hur has thus increased its construction order book value by some 90% to $499.7 million.
Phillip Securities analyst Yik Ban Chong is maintaining "buy" on Wee Hur with an unchanged target price of 62 cents, or 55 cents ex-special dividend. This comes after shareholders approved resolutions to pay out total dividends of 7.8 cents per share, which includes special dividends from its Purpose Built Student Accommodation (PBSA) Fund I divestment.
The dividends will be paid on May 23 and the ex-date is May 7.
