Lian Beng

Lian Beng

Postby winston » Fri Jun 06, 2008 4:28 pm

Not vested. From CIMB:-

Cutting forecasts.

We are cutting our FY08-10 forecasts for Lian Beng by 11-60% to account for risks in its property development profits, which stem from projects such as Lincoln Lodge and Kovan Road, where benchmark transacted prices have fallen below breakeven costs.

In addition, we factor in cost inflation on construction materials, especially from FY09 onwards, which would erode margins. This is despite the fact that LBG has an order book of over S$700m.

Downgrade to Neutral from Outperform;
target price reduced.
We previously used sum-of-the-parts analysis to arrive at a target price of S$1.32 for Lian Beng.

Now that its properly development profits are unlikely to materialise in the next two years, we have changed our valuation methodology to 8x CY09 P/E, or a 20% discount to our targets for industry peers. On our reduced EPS estimates, our new target price is S$0.38. Downgrade to Neutral from Outperform.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Lian Beng

Postby millionairemind » Mon Jul 28, 2008 9:23 pm

[quote="winston"]

Downgrade to Neutral from Outperform;
target price reduced.
We previously used sum-of-the-parts analysis to arrive at a target price of S$1.32 for Lian Beng.
[quote]

I am constantly amazed at how our analysts come out with such price targets. LB was a 75ct stock early January. Now it stands at 22.5cts :P

The value of the company is the price the last seller is willing to sell at :lol:

July 28, 2008, 6.21 pm (Singapore time)

Lian Beng enjoys 239% jump in FY08 net profit


Construction company Lian Beng Group on Monday reported net profit for the full year ended May 31, 2008 rose 239 per cent to $11.89 million.


An increase in construction activity drove revenue for Lian Beng up 40 per cent from the year-ago to $194.8 million.

The company also declared a first and final dividend of 0.472 cents a share compared to 0.22 cents a share a year ago.

Lian Beng said it expects to be busy fulfilling existing contracts and tendering for more business in the current financial year.

The group has an outstanding order book of about $647 million. -- EMILYN YAP, BT NEWSROOM
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

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Re: Lian Beng

Postby winston » Tue Jul 29, 2008 12:03 pm

Not vested.

Singapore Hot Stocks-Lian Beng up on strong earnings results


SINGAPORE, July 29 (Reuters) - Shares of construction firm Lian Beng Group rose as much as 6.7 percent after it said full-year net profit more than tripled, dealers said.

Lian Beng climbed to a high of S$0.24 with almost eight million shares changing hands.

The firm posted a net profit of S$11.9 million for the 12-months ended May 31, 2008, compared with S$3.5 million a year ago. Revenue jumped 40 percent to S$194.8 million from S$138.7 million a year ago.

Lian Beng's strong results came on the back of improving gross margins and a buoyant construction market.
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Re: Lian Beng

Postby millionairemind » Fri Sep 12, 2008 9:36 pm

Construction Consortium Unveils Upcoming Debut Of Lincoln Suites
A construction consortium formed by Lian Beng, Koh Brothers, Heeton and KSH, with equal shares each, has announced the upcoming debut of its joint development, Lincoln Suites, a 175-unit luxury twin tower condominium, located in the Newton District. Conveniently located less than two minutes walk from the Novena station and in close proximity to a good variety of F&B and retail amenities, this 175-unit luxury twin tower condominium development is a fusion of aesthetics and functionality. The consortium had formerly acquired the prime Lincoln Lodge site at 1/3 Khiang Guan Avenue, off Newton Road, in District 11, for $243m.
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

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Re: Lian Beng

Postby millionairemind » Tue Nov 18, 2008 8:43 pm

Singapore
November 18, 2008, 5.23 pm (Singapore time)

Lian Beng wins S$84m DSTA deal


By ANGELA TAN

Lian Beng Group Ltd's subsidiary, Lian Beng Construction (1988) Pte Ltd, has won an S$84 million construction contract from Defence Science and Technology Agency.


The contract, which will start in November, is for the development of camp facilities at Kranji. It is estimated to take 22 months for completion.

The contract is expected to have a positive financial impact on the net tangible assets per share and earning per share of the group for the current financial year ending 31 May 2009.
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Re: Lian Beng

Postby millionairemind » Tue Jan 13, 2009 9:33 pm

January 13, 2009, 6.09 pm (Singapore time)

Lian Beng's H109 net profit up 9%

By ARTHUR SIM

Lian Beng Group has announced on Tuesday net profit for the first half of its fiscal year 2009 rose by 9 per cent to $8.79 million, compared to $8.06 million a year ago.

Revenue was at $150.98 million for the six months ended 30 November 2008. This is a 42 per cent increase over the revenue of $106.23 million during the corresponding period a year ago.

Earnings per share was 1.66 cents for the period, down from 1.72 cents a year ago.

As at 30 November 2008, the group's total order book stood at approximately $660 million.
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Re: Lian Beng

Postby millionairemind » Thu Oct 15, 2009 7:13 pm

October 15, 2009, 5.43 pm (Singapore time)

Lian Beng's Q1 net profit surges 174%


By LYNETTE KHOO

Riding the wave of the residential property market, Lian Beng Group reported on Thursday a 174.2 per cent surge in net profit for the first quarter ended Aug 31 to $5.28 million.

This came on the back of a 128.6 per cent jump in revenue to $85.1 million. This was driven by completion of projects like Ferraria Park, Sixth Avenue Condominium and Northwoods, as well as progress payments from existing projects such as the construction of Amber Residences, camp facilities at Kranji, Kovan Residences and Bellerive Condominium.

The group also saw higher revenue contribution from Ola Residences, a wholly-owned property development project, and improvement in operational productivity.

Lian Beng said it expects to be participating in more tender activities for private and public projects over the rest of the financial year.
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Re: Lian Beng

Postby millionairemind » Tue Mar 09, 2010 6:09 pm

March 9, 2010, 5.47 pm (Singapore time)

Lian Beng wins S$144 mln UOL project


By ANGELA TAN

Lian Beng Group has bagged a $144 million contract to build a condominium development located at Dakota Crescent.

The design-and-build contract was awarded by UOL Development (Dakota) Pte Ltd, and covers the construction of 616 apartment units within three 19-storey blocks, four 20-storey blocks, and a six-storey carpark building with a roof garden, swimming pool, and other ancillary facilities.

Work on the development is expected to commence next month and be completed by March 2013.
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Re: Lian Beng

Postby millionairemind » Tue Mar 16, 2010 8:11 pm

March 16, 2010, 7.12 pm (Singapore time)

Lian Beng to build Centro Residences for $78m


By JULIANA TAY

SINGAPORE - Construction group Lian Beng Group Ltd has been awarded by the Far East Group to build Centro Residences for $78 million (US$56 million).

Located at Ang Mo Kio Avenue 8 just opposite Ang Mo Kio MRT station, the contract covers the construction of a 34-storey residential tower, along with a six-storey carpark, clubhouse, swimming pool, playground and other ancillary facilities.

Work on the development is expected to commence in March 2010 and be completed by January 2013.

With the latest project, Lian Beng's order book now stands at $820 million.

Lian Beng's managing director Ong Pang Aik said, 'As a Group, we have been fairly successful in leveraging our internal resources to provide more value-added activities for our customers. We are delighted to be able to work with Far East Group on yet another of its distinctive projects.'
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

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Re: Lian Beng

Postby millionairemind » Fri Apr 09, 2010 10:05 am

Published April 9, 2010

Lian Beng's nine-month net profit jumps 52% to $17.4m

By JOYCE HOOI

LIAN Beng Group yesterday posted a towering 52 per cent increase in nine-month net profit to $17.4 million, from $11.4 million a year earlier.

Revenue for the nine months ended Feb 28, 2010, climbed 4.5 per cent from $230.1 million to $240.5 million.

The company had earlier posted revenue of $157.6 million and net profit of $11.3 million for the six months ended Nov 30, 2009. Assuming no restatement of six-month figures, this would mean Lian Beng seeing a third-quarter net profit of $6.1 million (up 129 per cent year-on-year) on revenue of $8.29 million (up 4.7 per cent).

Besides higher gross profit margins, other operating income also boosted the nine-month bottom line, rising 50.4 per cent year-on-year to $3 million, mostly from gains on the disposal of plant and equipment, and sale of investment property, as well as from interest received from an affiliate.

On the balance sheet front, the group's total borrowings for the nine-month period decreased from $119.9 million to $104.6 million mainly due to lower bank borrowings and an increase in repayment of existing borrowings.

Its cash reserves were also shored up both by lower borrowings and higher profits, rising $43.1 million to $49.8 million as at Feb 28.

The group's outlook for the private residential market is a buoyant one.

'The strong positive response to recent private residential property launches in Singapore is expected to drive private residential sector demand for construction services over the next 12 months,' the group stated yesterday.

Last month, Lian Beng won three building contracts worth $317 million for the construction of Dakota Crescent, Centro Residences and The Laurels - all of which are private residential developments.

Including these contracts, the group's order book stood at $850 million on March 31.

In an update on its lawsuit against Manhattan Resources Ltd for an outstanding debt of $9.4 million, the group said: 'The company's legal counsel has advised that the company's chances of success in this case remain favourable . . . (so) the group has not made a provision for the doubtful debt owed by Manhattan.'

Earnings per share for the group stood at 3.28 cents for the nine-month period, up from 2.16 cents for the corresponding period the year before.
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
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