Libra clinches $11.3m worth of M&E contracts

Its order book now stands at $105.6m.

Libra announced last month that it had won a collective $11.3m worth of mechanical and electrical contracts, bringing its year-to-date order book to around $105.6m.

According to OCBC, the group is on track to achieve PATMI forecasts of $4.7m and $7.8m in FY14 and FY15 respectively.

“There is good value at current levels and we remain positive on Libra's growth prospects.The latest awards, secured through its subsidiary Kin Xin Engineering, include a S$6m M&E sub-contract for a residence hall development in Nanyang Technological University (to be completed by Jan-16), a S$4.2m sub-contract for an industrial development at Sin Ming Road as well as similar works for Ngee Ann Polytechnic Block 22 worth S$1.1m (latter two to be completed this year),” stated OCBC.