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    • « Vestopedia | Home | Penny stocks… The debate continues… »

    Hiap Seng Awarded $19.2M Contract

    By Pehon | July 22, 2007

    hiapseng logoHiap Seng Engineering anounced on the 19 July 2007 that they have been awarded a $19.2M contract for mechnical works for the erection of GSK’s Bulk Facility.

    The board expects the project to commence in August 2007 and completed 1 year later.

    The $19.2M contract is just under 10% of its FY2007 revenue. As expected, the board has also come out to say that they don’t expect much contribution to FY2008’s EPS, probably due to a recent 15 Million shares placement in June 2007.

    But Hiap Seng is going the right path down, and I expect to see more contracts through the year, to contribute to 2008’s peformance.

    Topics: Hiap Seng |

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