Since its establishment in 1990, Ley Choon has completed a wide range of underground utilities Infrastructure projects for Public Utilities Board, PowerGas, Singtel, Jurong Town Corporation and Land Transport AuthorityLEY CHOON GROUP has secured its maiden contract in Sri Lanka, the Group’s third overseas market, for the rehabilitation of 10 km of sewer lines and assessment of 125 km of sewer lines at a contract value of S$38.2 million.
Ley Choon is one of the few companies in Singapore that are well equipped with wide-ranging expertise, skillsets and specialised equipment to construct, maintain and rehabilitate underground water, gas and sewer pipes.
The Sri Lanka contract, signed between Ley Choon’s wholly-owned subsidiary, Teacly (S) Pte Ltd, and the Ministry of Local Government and Provincial Councils Sri Lanka, covers two and a half years.
The contract is not expected to have any material impact on the company’s earnings or the net tangible assets for the financial year ending 31 December 2014.
The contract is not expected to have any material impact on the company’s earnings or the net tangible assets for the financial year ending 31 December 2014.
The contract is part of Sri Lanka’s US$116 million Greater Colombo Waste Water Management Project, funded by the Asian Development Bank, to enhance the existing public sewerage system with the aim of improving urban environment and public health.
Toh Choo Huat, executive chairman and CEO of Ley Choon Group. NextInsight file photoMr Toh Choo Huat, Executive Chairman and CEO of Ley Choon, said in a press release yesterday (June 3): “Our technical expertise in sewer rehabilitation and trenchless micro tunneling for pipe jacking is highly recognised as our core competency in bidding international projects. "This contract win further elevates Ley Choon’s reputation, auguring well for sustainable overseas expansion beyond Brunei, China and Sri Lanka. Demand for underground infrastructure construction and upgrading remains robust in fast-growing countries such as Sri Lanka, whose GDP growth registered at 7.3% in 2013.”
Established in Singapore, the Group has formally embarked on its regional expansion into Brunei since late 2011.
In northern China, the Group has also established a plant in Yantai, Shandong for the recycling of construction waste and the production of eco-friendly ready-mix concrete.
At its recent price of 17.5 cents, Ley Choon stock trades at a trailing PE of 6.6 X and dividend yield of 1.45%. Its market cap: S$104 million.
Recent story: LEY CHOON rides on infrastructure boom; Invest In OTTO MARINE -- Analysts
At its recent price of 17.5 cents, Ley Choon stock trades at a trailing PE of 6.6 X and dividend yield of 1.45%. Its market cap: S$104 million.
Recent story: LEY CHOON rides on infrastructure boom; Invest In OTTO MARINE -- Analysts
