Sim Lian Group

Sim Lian Group

Postby millionairemind » Thu Aug 28, 2008 8:51 am

Published August 28, 2008
Sim Lian net profit up a third to $44m
By JAMIE LEE

PROPERTY and construction group Sim Lian has posted a 33 per cent jump in fiscal full-year net profit to $44.1 million despite rising raw materials costs, thanks to higher revenue, a reversed impairment loss and a divestment.

Sim Lian also plans to launch three projects in fiscal 2009 at Surrey Road, Keng Lee Road and its second design, build and sell scheme project at Simei Road, it said in its financial statement, but added that they are not expected to contribute significantly to 2009 financials.

The company declared a first and final cash dividend of 1.6 cents per share.

Revenue rose 22 per cent to $389.6 million for the 12 months ended June 30, 2008. Property development sales were up 20 per cent to $250.4 million due mainly to revenue recognised from its projects, The Premiere @ Tampines and Carabelle.

Other operating income rose 92 per cent to $5.2 million due mainly to the divestment of its data centre.

Sim Lian's construction division posted a 22 per cent rise in revenue to $116.7 million, thanks to higher-value contracts clinched this year as well as a higher percentage of project completion.

Earnings per share rose to 7.8 cents from 6.3 cents, while its cashflow fell 33 per cent to $53.3 million.

The cost of raw materials and consumables jumped 56 per cent to $13 million, mainly due to pricier industrial lubricants.

The company also posted a negative balance of $258,000 in other operating expenses, thanks to a $6 million increase in valuation of its investment property and a $2.2 million reversal of impairment loss on property, plant and equipment. Stripping that out, other operating expenses would have jumped 58 per cent to $7.9 million due to a higher exchange loss recorded by its Malaysian subsidiary and in allowance for doubtful trade receivables.

Projects including The Premiere @ Tampines and Carabelle, as well as Clover by the Park at Bishan and The Amery at Telok Kurau - which were launched in June - are expected to contribute positively to the company's performance in fiscal 2009, said Sim Lian.

Despite rising construction costs and weak sentiment in the property sector, the company expects to achieve profitable operating results in fiscal 2009.
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Re: Sim Lian Group

Postby iam802 » Sat Nov 29, 2008 12:53 pm

ADDITIONAL INVESTMENT IN SIM LIAN (UBI) PTE. LTD.

http://info.sgx.com/webcoranncatth.nsf/ ... penelement


So, this 'Sim Lian (Ubi)' subsidiary.... what does it do?
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Re: Sim Lian Group

Postby millionairemind » Thu Feb 12, 2009 8:25 pm

February 12, 2009, 6.14 pm (Singapore time)

Sim Lian's Q2 net profit slips 30 per cent

By KALPANA RASHIWALA

Sim Lian Group has posted a 30 per cent year-on-year drop in Q2 net earnings to S$9.5 million. Revenue doubled to S$161 million but in tandem with this, contract costs also shot up 128 per cent to S$138.3 million.

For the first half ended Dec 31, 2008, net profit rose 57 per cent to S$32 million. Revenue rose 141 per cent to $352 million.
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Re: Sim Lian Group

Postby millionairemind » Wed Feb 10, 2010 6:36 pm

February 10, 2010, 6.01 pm (Singapore time)

Sim Lian's Q2 net profit more than triples

By ANGELA TAN

Construction and property related Sim Lian Group Limited on Wednesday reported net profit for the fiscal second quarter rose 222 per cent to S$30.62 million, up from S$9.52 million a year ago.

Revenue was up 3 per cent at S$166.48 million.

The group expects to achieve a set of profitable operating results for FY2010.
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Re: Sim Lian Group

Postby millionairemind » Wed May 12, 2010 8:08 am

ublished May 12, 2010

Sim Lian posts 38% jump in Q3 earnings

Revenue from external projects of group's construction division up 83%


By KALPANA RASHIWALA

SIM Lian Group says it expects to achieve a set of profitable operating results for FY 2010 after posting a 38 per cent year-on-year rise in group net profit to $18.4 million for the third quarter ended March 31.

The improved Q3 bottom line was on the back of a 132 per cent year-on-year surge in revenue to $203.2 million. The construction and property group said the topline was boosted by a 164 per cent jump in revenue from property development division, from $57.1 million in Q3 FY 2009 to $151 million in Q3 FY 2010.

This was due largely to higher percentage recognition of revenue from Clover By The Park, Parc Lumiere, The Lincoln Residences and Rochelle at Newton residential projects.

Sim Lian said revenue from external projects of its construction division rose 83 per cent from $25.5 million in Q3 FY 2009 to $46.6 million in Q3 FY 2010 mainly due to higher percentage of completion recorded. 'The construction division remains selective in all tenders to ensure jobs are secured with reasonable prices and margins,' Sim Lian said in its results statement.

'As a whole, the development projects of the group are expected to contribute positively to the group's performance in FY 2010,' the company said.

For the nine months ended March 31, Sim Lian's group net profit jumped 69 per cent year on year to $76.6 million. Over the same period, revenue rose 28 per cent to $564.1 million.

In March, the group was awarded a 99-year-leasehold residential land parcel at Tampines Ave 1/10 facing Bedok Reservoir. Sim Lian plans to develop a condo with nearly 700 units on this plot ranging from two-bedroom apartments to penthouses with five bedrooms and launch the project sometime in October-December this year.

The group also plans to release this calendar year a landed housing project in Senai, Johor, comprising 120 terrace houses.

Sim Lian's earnings per share (EPS) rose to 3.24 cents for the quarter just ended, from 2.34 cents in the same quarter last year. Nine-month EPS rose from 7.98 cents to 13.49 cents.

Net asset value per share stood at 50.15 cents at end-March 2010, up from 38.07 cents as at end-June 2009.

The counter was last traded at 52 cents.
"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: Sim Lian Group

Postby LenaHuat » Thu Nov 18, 2010 8:37 pm

Just 6 months after winning the bid for the land at ard @S$430 psf, SL will launch WaterView at Tampines at a average price of $838 psf. That's a fat ROE of around 20 to 25%, IMHO. As far as policy goes, the luxurious and upper tiered market do not matter. It's the mass market and HDB that directs issues. I think the govt will stay its hand.
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Re: Sim Lian Group

Postby iam802 » Thu Nov 18, 2010 9:45 pm

So, is this similar to 'Duxton' which is under those DBSS?

Gahmen really indirectly controlling lots of things.
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Re: Sim Lian Group

Postby Poles » Thu Nov 18, 2010 11:13 pm

iam802 wrote:So, is this similar to 'Duxton' which is under those DBSS?

Gahmen really indirectly controlling lots of things.


it is 80% closed market ....
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Re: Sim Lian Group

Postby LenaHuat » Tue Dec 07, 2010 9:07 pm

7 bids for this piece of Punggol land :o .
A joint venture between Sim Lian Land and Sim Lian Development has emerged as the highest bidder for a 99-year leasehold private condo plot at Punggol Central/Punggol Walk.

The tie-up bid $363 million or $406 per square foot per plot ratio (psf ppr).
The tender attracted seven bids. The lowest, from Allgreen Properties, was $288.76 psf ppr.
The plot includes a single-storey conservation building, Matilda House.


Back in late July, I wrote something about picking up constructions counters and Peter responded to the post.
Wonder if you (Peter :D ) made enough iced coffee $$.
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Re: Sim Lian Group

Postby winston » Wed Dec 08, 2010 8:19 am

Not vested

SIM LIAN GROUP - Sim Lian Group said its units have submitted a joint tender that won the top bid with a tender price of S$363 million ($276.9 million), to build a residential site on a land parcel.

The tender is still under evaluation by Singapore authorities.


Source: Reuters
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