UDL Holdings Recommendation: Buy Brokerage: G K Goh THE company's main activity is marine engineering, such as building sea walls, dredging and reclamation-related activities.
The recent acquisition of the Nicetrand Group has expanded its civil engineering capabilities and provided an additional $800 million in orders.
Orders on hand amount to $2.4 billion, compared with almost $600 million at the time of listing.
An estimated 6,000 hectares of land will be reclaimed in Hongkong over the next decade, with the airport platform alone accounting for almost 1,000 hectares.
UDL estimates it has 40 per cent of Hongkong's dredging capacity and now has a fleet of 150 vessels, compared with 86 at the time of listing.
Tai Cheung Recommendation: Buy Brokerage: Smith New Court STILL the most undervalued developer, Tai Cheung continues to benefit from rising values of its Grade B office projects which inevitably lead to upward revisions of its earnings estimates.
