Hock Lian Seng
Posted: Thu Jan 28, 2010 2:58 pmVested.
How come I didn't see any mention of this company?
Hock Lian Seng to launch IPO to raise S$27.5m
By Ryan Huang, Channel NewsAsia | Posted: 11 December 2009 0052 hrs
SINGAPORE: Civil engineering group Hock Lian Seng (HLS) Holdings is planning to raise S$27.5 million in an initial public offering (IPO) on the Singapore Exchange.
One of the major projects undertaken by HLS Holdings includes a new train station near Marina Bay. Its other major projects include contracts from the Civil Aviation Authority of Singapore, the Housing & Development Board and PSA Singapore Terminals.
The company hopes its listing will position it to secure more and larger scale projects.
Chua Leong Hai, founder and chairman, HLS Holdings said: "In order for us to grow, we can't be just like a private family business anymore. Getting listed will boost our corporate image and help us to expand and attract more talent."
The company is also hoping to take advantage of an improving market sentiment. Since 2000, it had put off its IPO plans twice due to unfavourable market sentiments.
HLS Holdings is offering 110 million shares at 25 Singapore cents each. Only 2.2 million shares will be offered to the public, and the remainder will be placed out.
At 25 Singapore cents a share, the IPO is priced at a historical price earnings ratio of approximately 6.4 times, based on its net earnings per share for the financial year ended 31 December 2008.
HLS Holdings said it plans to use the proceeds to acquire a central workshop, to buy equipment and machinery, and for working capital.
The group expects the outlook for the sector to be boosted by public infrastructure projects worth over S$30 billion in the next two years.
"In terms of volume of work, we are confident the next few years is going to be very strong, particularly for our company because we are infrastructure-based," said Lim Peng Kiat, group GM, HLS Holdings.
HLS Holdings said its order books stand at S$630 million as of October. Last year, the company made a profit of S$15.5 million - up about 50 per cent on-year - on revenues of nearly S$195 million.
The IPO closes on December 17, and trading is expected to start on December 21.
- CNA/sc
http://www.channelnewsasia.com/stories/ ... 78/1/.html
How come I didn't see any mention of this company?
Hock Lian Seng to launch IPO to raise S$27.5m
By Ryan Huang, Channel NewsAsia | Posted: 11 December 2009 0052 hrs
SINGAPORE: Civil engineering group Hock Lian Seng (HLS) Holdings is planning to raise S$27.5 million in an initial public offering (IPO) on the Singapore Exchange.
One of the major projects undertaken by HLS Holdings includes a new train station near Marina Bay. Its other major projects include contracts from the Civil Aviation Authority of Singapore, the Housing & Development Board and PSA Singapore Terminals.
The company hopes its listing will position it to secure more and larger scale projects.
Chua Leong Hai, founder and chairman, HLS Holdings said: "In order for us to grow, we can't be just like a private family business anymore. Getting listed will boost our corporate image and help us to expand and attract more talent."
The company is also hoping to take advantage of an improving market sentiment. Since 2000, it had put off its IPO plans twice due to unfavourable market sentiments.
HLS Holdings is offering 110 million shares at 25 Singapore cents each. Only 2.2 million shares will be offered to the public, and the remainder will be placed out.
At 25 Singapore cents a share, the IPO is priced at a historical price earnings ratio of approximately 6.4 times, based on its net earnings per share for the financial year ended 31 December 2008.
HLS Holdings said it plans to use the proceeds to acquire a central workshop, to buy equipment and machinery, and for working capital.
The group expects the outlook for the sector to be boosted by public infrastructure projects worth over S$30 billion in the next two years.
"In terms of volume of work, we are confident the next few years is going to be very strong, particularly for our company because we are infrastructure-based," said Lim Peng Kiat, group GM, HLS Holdings.
HLS Holdings said its order books stand at S$630 million as of October. Last year, the company made a profit of S$15.5 million - up about 50 per cent on-year - on revenues of nearly S$195 million.
The IPO closes on December 17, and trading is expected to start on December 21.
- CNA/sc
http://www.channelnewsasia.com/stories/ ... 78/1/.html
