SINGAPORE (May 4): Following a prolonged period of lacklustre profitability, a large swathe of constructions stocks are currently trading below their book values while the operating backdrop for the local construction players appears to be improving.

The Building and Construction Authority (BCA) on Jan 11 said it expects between $26 billion and $31 billion worth of construction contracts to be awarded this year.

Contractors themselves are talking about bidding for work related to upcoming tenders for mega infrastructure projects, such as Changi Airport’s fifth terminal, the North- South Corridor (NSC) — an integrated transport network connecting northern Singapore to the city — and the Kuala Lumpur-Singapore High Speed Rail.

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