Reference to my previous blog sharing on Koh Brothers, there is an exciting article on Koh Brothers on the Business Times today. I guess I am about to hit the jackpot. Previously, I called a buy (even way before I wrote a blog on it) on Koh Brothers because of it reasonable, if not cheap valuation.With its existing projects on hand, I strongly believe that $0.38 a share is undervalued. This is without taking into account my expectation/believe that Koh Brother has the potential to tender for the casino tower construction project. So any further good news is just a bonus. It seems that now I am one step closer to the bonus.
Today, Business Times reported that Koh Brother and Lian Beng’s JV is likely to get the casino deal. To any friends and colleagues who followed my advise, hold on to Koh Brothers to the very last minute.
What else?
On 2 Jan 2008, Koh Brothers announced that its prime freehold hotel site along Changi road is up for sale by public tender. According to a report on Business Times, the asking price for the site is $55 million.
"Show me my money!!!"
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January 3, 2008, 10.30 am (Singapore time)
Construction firms up on casino hopes
SINGAPORE - Shares of construction firms soared as expectations that Koh Brothers Group and Lian Beng Group would win a lucrative contract lifted sentiment for the whole sector, bucking the downward trend of the market.
A consortium of Koh Brothers and Lian Beng Group are running for contract worth around $500 million (US$348 million) for works related to one of the two casinos under construction in the city-state.
'The market expects that they will win the bid, it's quite a firm deal already,' said a local dealer.
Lian Beng rose as much as 5.1 per cent to an eight and a half year high of $0.82 and was the third most actively traded counter on the Singapore bourse with 18.8 million shares traded.
Koh Brothers jumped 6.5 per cent to $0.49 with 8.5 million shares changing hands.
Other construction plays such as Yongnam Holdings rose as much as 3.3 per cent to $0.31 with seven million shares traded. CSC Holdings was up 1.5 per cent to $0.33 with six million traded.
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January 3, 2008, 10.30 am (Singapore time)
Construction firms up on casino hopes
SINGAPORE - Shares of construction firms soared as expectations that Koh Brothers Group and Lian Beng Group would win a lucrative contract lifted sentiment for the whole sector, bucking the downward trend of the market.
A consortium of Koh Brothers and Lian Beng Group are running for contract worth around $500 million (US$348 million) for works related to one of the two casinos under construction in the city-state.
'The market expects that they will win the bid, it's quite a firm deal already,' said a local dealer.
Lian Beng rose as much as 5.1 per cent to an eight and a half year high of $0.82 and was the third most actively traded counter on the Singapore bourse with 18.8 million shares traded.
Koh Brothers jumped 6.5 per cent to $0.49 with 8.5 million shares changing hands.
Other construction plays such as Yongnam Holdings rose as much as 3.3 per cent to $0.31 with seven million shares traded. CSC Holdings was up 1.5 per cent to $0.33 with six million traded.
Economic data released on Wednesday showed Singapore's construction sector growing a healthy 24.4 per cent in the fourth-quarter. -- REUTERS
