BBR Holdings

[RBM]

Thank you for this ngcheeki - maybe this broker analyst report explains why today's traded volumes of BBR's shares was the highest in over 13 months, i.e. since the dark days of August 2011. Can't see another driver for such volumes.

Vested

Based on the analyst report from DMG on today, BBR will be recognizing 25% of sale revenue of "Lush on Holland Hill," in Q3 2012. See the following for more information.

Scoop of the Day: We met up with BBR’s management recently with the following key takeaways: 1) Management is optimistic on its general construction and specialized engineering businesses, given the positive construction demand, especially from the public sector segment as the government ramps up educational facilities, rail infrastructure and public housing projects. The group is currently sitting on a healthy orderbook of $773m for delivery through 2015. More recently, the group clinched a $153m contract from Ascendas Land for the construction of a mixed use development at Fusionoplis Place in Buona Vista, 2) On the property front, the group has completed Lush on Holland Hill, with T.O.P. obtained in 3Q12 while its other development project, Bliss@Kovan, is 85% sold. Revenue recognition, however, will only commence when construction gets underway, 3) BBR is gunning for a share of the contract pie in the upcoming tender award for the Thomson Line. Given its track record in the civil engineering field, we are optimistic that it could add to its orderbook from potential contract wins. We see a stronger year ahead for the group in FY13 (net profit + 75% y/y) on the back on higher contributions from construction and property. The stock is trading at attractive valuation of 3.1x FY13 P/E. We maintain BUY with a TP of $0.35, based on 5x FY13 P/E. (Lynette Tan)

http://www.remisiers.org/cms_images/rese...atters.pdf

Vested