In a Thursday report, analyst Edison Chen says the Building and Construction Authority expects public-sector contracts to grow to $20b-24 billion in 2017 from $15.8 billion in 2016.
SINGAPORE (Feb 16): UOB is starting coverage of Hock Lian Seng Holdings with a “buy” recommendation and target price of 69 cents, given its record high orderbook, earnings visibility and the rising demand for mega-infrastructure projects.
The 47-year-old company has wide-ranging expertise in government projects with a robust 2017 net cash of $209.9 million, or a whopping 80% of market cap. Hock Lian Seng also offers a 2016 dividend yield of 4.9% with potential for more.
