Stocks in the news (STEC) 02.05.13

STEC

Contract for new Parliament signed — The parliament and Sino-Thai Engineering and Construction Plc (STEC) have signed an agreement for construction of new parliament buildings alongside the Chao Phraya River in Kiak Kai area of Bangkok. The Bt12.2bn contract was signed by House secretary-general Suwijak Nakwacharachai and STEC president and executive director Pakpoom Srichamni. It gives the construction firm 900 days to build Thailand’s new legislative centre – until Oct 18, 2015. (Bangkok Post website, 30/04/13)

Comment: Every construction stock has been on a tear for the past 6 months on the back of expected windfalls from the governments spending. We normally shy away from them, but if a gun was put to my head I would choose ck then STEC over the others any day

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