Lian Beng Group, the homegrown building construction group, says net profit doubled to $22.7 million for the six months ended November 2010 (1H11), compared to $11.4 million for the six-months ended November 2009 (1H10). This came on the back of a 58.2% rise in revenue to $249.3 million.
Posts Tagged ‘Lian’
Lian Beng acquires Mandai Estate land for $67m
January 11th, 2011 |
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Builder Lian Beng Group says subsidiary Lian Beng-Centurion (Mandai) has agreed to acquire a freehold land parcel at Mandai Estate along Woodlands Road for $67 million from Mandai Properties to develop the land into an industrial complex for sale and lease.
The 201,443 sq ft land parcel is located close to Yew Tee MRT station, as well as the Bukit Timah Expressway (BKE) and Kranji Expressway (KJE). It has a plot ratio of 2.5, and a resulting gross floor area of 503,606 sq ft. This works out to an average price of about $133 psf per plot ratio.
Jetstar plans to base 4 Airbus A330s in Singapore by end 2011
December 16th, 2010 |
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Jetstar, the budget unit of Qantas Airways, plans to base four Airbus A330 widebody planes in Singapore as part of the expansion of its long-haul business, Jetstar Asia Chief Executive Officer Chong Phit Lian said in an interview in Singapore today. The carrier may also start flying to cities in north Asia and southern Europe from Singapore, she said. Jetstar began a service to Melbourne from today and will fly to Auckland from March.
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Dec 8: GLP, telcos, Sim Lian, Swissco, MapletreeLog, Ziwo
December 8th, 2010 |
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Singapore shares may see a weak start on Wednesday, following Wall Street’s sluggish performance overnight due to lingering euro zone debt concerns. Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.33% on Tuesday to 3,191.88 points. Here are some stocks to watch, say Bloomberg and Thomson Reuters:
Sim Lian releases more Waterview units for sale
November 22nd, 2010 |
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Mainboard-listed Sim Lian Group says its latest project, Waterview, met with good response after the official launch last Friday.
Of the 390 units released for sale so far, a total of 332 units have since been sold. To meet demand, Sim Lian says it will be releasing new choice units for sale this week, bringing the total released to 500 units.
Waterview, a 696-unit condominium is located at the junction of Tampines Avenue 1 and Tampines Avenue 10, right next to Bedok Reservoir Park. Sited on a 341,654 sq ft site, the 99-year leasehold development comprises 12 15-storey blocks.
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Sim Lian Group posts 58% lower PBT at $14.8m
November 9th, 2010 |
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Builder and developer Sim Lian Group recorded a profit before income tax of $14.8 million in 1QFY2011, 58% lower than the $35.5 million recorded in 1QFY2010.
Revenue from property development division contributed $92.0 million to the group’s revenue in 1QFY2011 compared to $156.3 million in 1QFY2010, a decrease of 41%.
The decrease in revenue from property development division was mainly due to decrease in revenue contribution from a project which obtained Temporary Occupation Permit in July 2009 and several other projects which showed decrease in revenue contribution due mainly to fewer number of units sold and lower percentage work done in 1QFY2011 compared to that in 1QFY2010.
Sim Lian Group posts 58% lower PBT at $14.8m
November 9th, 2010 |
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Builder and developer Sim Lian Group recorded a profit before income tax of $14.8 million in 1QFY2011, 58% lower than the $35.5 million recorded in 1QFY2010.
Revenue from property development division contributed $92.0 million to the group’s revenue in 1QFY2011 compared to $156.3 million in 1QFY2010, a decrease of 41%.
The decrease in revenue from property development division was mainly due to decrease in revenue contribution from a project which obtained Temporary Occupation Permit in July 2009 and several other projects which showed decrease in revenue contribution due mainly to fewer number of units sold and lower percentage work done in 1QFY2011 compared to that in 1QFY2010.
Dynamic Colours – Corporate moves
September 29th, 2010 |
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Quek Bee Lian has been appointed CFO wef Sep 27
Work experience: Group operations manager, Spindex Industries Ltd; financial controller, China Healthcare Ltd; financial controller, Spindex Industries Ltd
Sim Lian target lifted to $0.80 vs $0.72 by BNP
September 21st, 2010 |
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BNP Paribas lifts Sim Lian Group (S05.SG) target price to $0.80 from $0.72, based on 20% discount to RNAV estimate, after increasing FY11-12 earnings estimates by 11%-28% to factor in potential property launches arising from developer’s recent site acquisitions, according to Dow Jones.
Sim Lian unit submits top $160m bid at Hougang Ave 7 site
September 17th, 2010 |
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Sim Lian Group says wholly-owned subsidiary Sim Lian Land has submitted the top bid of $160 million tender for a land parcel Hougang S18 at Hougang Avenue 7 for condo housing development. If awarded the land tender, the company says it would likely build 400–450 units of two- to four-bedroom apartments on this site.
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Sim Lian Group surges 33% on earnings, bonus issue
August 26th, 2010 |
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Sim Lian Group surged by most on record after the property developer reported full-year profit more than doubled and proposed a bonus issue.
The company said full-year profit increased to $104.4 million from $38.7 million a year earlier. Sim Lian will give shareholders one bonus share for every two shares held in addition to a cash dividend of 3.7 cents a share, it said. Sim Lian climbed 33% to 69 cents as of 9:23 a.m. local time, the biggest advance on record.
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Aug 26: Sembcorp, Yangzijiang, Sim Lian, Parkway, Olam, Cosco
August 26th, 2010 |
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Singapore stocks may open higher on Thursday after Wall Street shares broke a four-day losing, as key technical support triggered bargain hunting that offset weak economic data. Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.13% on Wednesday to 2,926.55 points. Here are some stocks and factors to watch:
Sembcorp Industries (SCI SP): The conglomerate which gets 44 percent of revenue from utilities said it will invest $800 million to build a multi-utility facility and a power plant for Jurong Aromatics Corp., which signed a 20-year deal to use the facilities. Sembcorp Industries gained 1% to $4.13.
Sim Lian posts full-year PBT of $129.4m
August 25th, 2010 |
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Property developer and builder Sim Lian Group has recorded a full-year profit before income tax of $129.4 million in FY2010, 141% higher than the $53.6 million recorded in FY2009.
Revenue from property development division contributed $582.1 million to the group’s revenue in FY2010 compared to $394.9 million in FY2009, an increase of 47.4%. The increase in revenue from property development division was mainly due to percentage recognition of revenue from the following projects: Clover By The Park, Parc Lumiere, The Lincoln Residences and Rochelle At Newton.
Hock Lian Seng posts 62% rise in 1H net profit to $15.2m
August 13th, 2010 |
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Hock Lian Seng Holdings, the civil engineer and a building materials supplier, says it posted a 61.9% y-o-y increase in net profit attributable to shareholders to $15.2 million in 1H2010 from $9.4 million in 1H2009.
Revenue for the group increased 8.9% to $118.8 million in 1H primarily due to the progressive recognition of revenue from the Marina Coastal Expressway and Jalan Gali Batu Depot projects in the Civil Engineering segment.
Together with better gross margins from new projects and additional works done, gross profit grew 30.8% y-o-y to $15.6 million.
Hock Lian Seng says the group also disposed $8.1 million worth of investment securities in quoted shares during the period. This resulted in a one-off gain of $4.0 million which in turn helped to lift the net profit.
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Singapore Exchange hires UOB’s Tng for bond projects: Update
August 5th, 2010 |
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Singapore Exchange hired Tng Kwee Lian from United Overseas Bank to be head of fixed income as part of a project to spur Asian capital markets.
Tng, who joins later this month from UOB’s asset management unit, will drive initiatives including promoting bond trading to individual investors, the bourse said in a statement today. The exchange plans to halve the time taken to approve bond listings. It will seek to encourage companies to add to the 1,229 bonds already listed on the bourse, said President Gan Seow Ann.
Lian Beng bags $120m contract to build The Scala
August 2nd, 2010 |
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Homegrown building construction company Lian Beng Group has clinched a $119.5 million contract to build The Scala, a 99-year leasehold condominium development located at Serangoon Avenue 3, near Lorong Chuan MRT Station and NEX Mega Mall.
Singapore fund Target Asset to wind down operations
July 29th, 2010 |
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Target Asset Management, one of Singapore’s most successful boutique fund managers, will wind down its operations as founder and chief investment officer Teng Ngiek Lian plans to retire.
Lian Beng Group reports 41.2% rise in full-year earnings to $24m
July 28th, 2010 |
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Building construction company Lian Beng Group has reported a profit attributable to shareholders of $24.0 million for the financial year ended 31 May 2010 (FY10), compared to $17.0 million in 2009 (FY09).
Lian Beng says the 41% year-on-year jump in profitability was driven by strong performance across the group’s construction, property development and ready-mixed concrete divisions.
Lian Beng +1.8%; Building demand sustainable, says DMG
July 1st, 2010 |
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Lian Beng Group (L03.SG) +1.8% at $0.285, supported by news of construction group winning $88.3 million contract to build Singapore condo, its fourth project for private residential sector since March, says Dow Jones.
“We see demand for construction services to be sustained on the back of public infrastructure and private property projects rolling out,” says DMG, which has no rating on stock.
Contract value tad more than entire $82.9 million revenue for quarter ended February, expected to boost earnings for current FY ending May 2011.
Current interest tame as gains not accompanied by firm volume. Resistance expected at last month’s $0.30 high.
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