Wee Hur's Construction Pipeline Could Underpin Earnings Visibility Through 2031
Dow Jones
Aug 17
0240 GMT - Wee Hur Holdings' strong construction pipeline could underpin earnings visibility through 2031, says DBS Group Research's Jia Hui Ng in a note. The Singapore construction company's order book stood at 598.9 million Singapore dollars as of end-June, with a further S$262.2 million likely to be added, the analyst says. Still, Ng remains cautious on the company's cost pressures given higher energy and material costs from geopolitical events. Meanwhile, its workers' dormitory business is likely to offer stronger recurring income as occupancy at some assets ramp up. DBS maintains its buy rating and S$0.90 target price. Shares rise 5.3% to S$0.695.
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