ISOTeam - RHB Invest 2016-06-01: Secured eleven private and public sector contracts worth SGD26.32m

ISOTeam - RHB Invest 2016-06-01: Secured eleven private and public sector contracts worth SGD26.32m ISOTEAM LTD 5WF.SI 

ISOTeam (ISO SP) - Secured eleven private and public sector contracts worth SGD26.32m

  • ISOTeam has secured eleven private and public sector contracts worth SGD26.32m. Of the total new contract wins, SGD22.64m came from Town Councils and public statutory boards, National Environment Agency and Housing & Development Board, as the Group continues to maintain its strong order win track record in the public sector.
  • As ISOTeam’s new business unit continues to gain traction, the Group announced SGD3.68m worth of order wins from private sector. This contract requires the Group to undertake landscaping, specialised coating & painting and specialised A&A work.
  • This new order win will boost ISOTeam’s order book to SGD100m. We expect the Group to win more contracts from Sunseap in the near term, as well as other public projects in Singapore.
  • As we had highlighted earlier, the Group has also tendered for a few projects in Myanmar. We believe it may secure 3-4 projects with contract size of USD1-2m each in Myanmar over next few months. 
  • We Maintain our Conviction BUY recommendation on the stock with DCF-backed TP of SGD0.41 implying 10x FY16F P/E.




Jarick Seet RHB Invest | http://www.rhbinvest.com.sg/ 2016-06-01
RHB Invest SGX Stock Analyst Report BUY Maintain BUY 0.41 Same 0.41


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