ST Engineering contract wins has topped S$2.6b

But firm's current valuation is unattractive.

ST Engineering's total value of contract wins has reached S$2.6 billion, pushed up by the latest awarding from VT Halter Marine.

But Maybank Kim Eng cautioned that the firm's current valuation is unattractive given that it has no catalyst in sight what with the US Coast Guard tender win still hazy and its weak 9M13 performance.

This led Maybank to lower its FY13 EPS forecast for ST Engineering by 10% and still recommend a HOLD for the engineering firm's stock.

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