Lian Beng’s 9MFY2015 profit to shareholders up 5.7% to S$53.9 million

9MFY2015 revenue up 6.3% to S$569.9 million mainly due to higher revenue from construction segment from the on-going and new construction projects, despite the substantial revenue recognition from industrial project M-Space in 9MFY2014

Construction order book stood at approximately S$640 million as at 28 February 2015, providing sustainable flow activities through FY2017

Group’s cash and cash equivalents stood at S$153.6 million as at 28 February 2015, ready to fund potential investment opportunities

Co-development of workers’ dormitory and training centre for ASPRI expected to complete in mid-2016, contributing to Group’s recurring income thereafter

Lian Beng’s 1Q FY2015 profit to shareholders up 58.5% to S$12.0 million

1Q FY2015 revenue increased 10.8% to S$167.6 million on higher revenue from construction segment and workers’ dormitory business

Share of results of associates and JVs improved to S$5 million on recognition of profits from development projects NEWest, KAP Residences, The Midtown and Midtown Residences


Construction order book stood at approximately S$1.0 billion to provide sustainable flow of activities through FY2017

Group’s cash and cash equivalent stood at S$150.9 million as at 31 August 2014, ready to fund potential business opportunities


Group expects core construction business to continue to drive revenue growth and recognition of profits from property development projects to continue to contribute positively to earnings

Lian Beng, Heeton, KSH to co-develop Brisbane asset

LIAN Beng Group, together with Heeton Holdings and KSH Holdings will, through their respective subsidiaries, co-develop a A$150 million (S$173.87 million) mixed-use site in Brisbane, Australia.

The three companies on Monday identified two components to the joint venture:

The first involves a residential development joint venture with Australian counterpart Marvel Investments Pty Ltd, which will hold an effective interest of 67 per cent; the rest is held by Heeton, Lian Beng, and KSH consortium with effective interests of 18.15 per cent, 9.90 per cent, and 4.95 per cent respectively.

The second is a hotel development joint venture with Heeton and Lian Beng holding effective interest of 70 per cent and 30 per cent respectively.

Lian Beng posts record profit, higher dividends

By lee mei xian

CONSTRUCTION company Lian Beng on Wednesday posted a record net profit to shareholders of S$87.1 million for its full year ended May 31, 2014, a 19.4 per cent increase from a year ago.

Revenue also surged 49.1 per cent to a S$753.9 million - also a record - driven up by higher turnover from its property development segment, arising from sales at its developments M-Space, The Midtown, Spottiswoode Suites and Lincoln Suites.

Revenue from its construction segment - the largest contributor - also rose from higher revenue recognition from its ongoing and new projects, it said.

Lian Beng did not provide a specific set of results for its fourth quarter only.

Lian Beng nine-month profit jumps 67% to $50.3m

Revenue also rises 67% to $585.6m; group to continue to focus on construction segment

 

 

By Lynette Khoo

                          

 

 

Mr Ong Pang Aik: Says the group's stronger revenue was not solely due to the recognition of M-Space as revenues from construction and ready-mixed segments also showed improvement. - FILE PHOTO

CONSTRUCTION company and developer Lian Beng recorded a 67 per cent jump in net profit to $50.3 million for the nine months ended Feb 28 as it recognised profit from its industrial project that was just completed.

Revenue also grew 67 per cent to $585.6 million, mainly bolstered by its industrial development property M-Space, which attained TOP (temporary occupation permit) in January this year.

Lian Beng's executive chairman, Ong Pang Aik, noted that the group's stronger revenue was not solely due to the recognition of M-Space as revenues from construction and ready-mixed segments also showed improvement.

The construction segment remained a key driver to the group revenue for the first nine months of fiscal 2014, contributing about 53 per cent, while its property development and ready-mixed concrete segments contributed 30 per cent and 15 per cent respectively.

Lian Beng buys a 5.026% stake in Centurion

By

Angela Tan angelat@sph.com.sg

         

Centurion Corporation Limited, said Lian Beng Group bought 38 million of its shares at 57 cents each in an off-market married deal on Thursday.

With this acquisition, the construction company now holds 5.026 per cent of Centurion, which is in the domritory business.

Other private investors took up 42 million Centurion shares.

The sellers are Centurion's controlling shareholders, Centurion Properties Pte Ltd and David Loh Kim Kang, who sold 70 million shares and 10 million shares respectively - equivalent to 10.58 per cent.

Lian Beng: Award Of S$117 Million Contract.

Lian Beng Group Ltd's wholly-owned subsidiary, Deenn Engineering Pte Ltd has secured a construction contract worth approximately S$117 million for the Construction of a Multi-Storey Building..

Lian Beng full year profits down 24.3 per cent

By

ong chor hao

         

NET profit at construction-focused Lian Beng Group fell 24.3 per cent for the full year ended May 31, in the absence of a one-off gain that boosted the bottom line in the previous financial year.

Profit attributable to owners of the parent was S$39.4 million for financial year 2013, compared with S$52.1 million a year ago. Earnings per share (EPS) was 7.45 Singapore cents for FY2013, down from the 9.83 Singapore cents in FY2012.

Lian Beng's top line registered a growth of 13.6 per cent to S$505.6 million from a year ago. This was primarily due to higher contributions from its construction and ready-mixed concrete businesses, which make up about 95 per cent of all revenue. The company's third core business of property development posted lower income.

But the bottom line was hit by a 55.9 per cent plunge in other operating income to S$6.4 million. The company had booked a S$7.9 million gain from the sale of an investment property in the previous work year.

Lian Beng wins 3 deals worth $211m

By

nathaniel chew

         

CONSTRUCTION firm Lian Beng Group yesterday announced it had secured three new projects worth a total of $211 million.

This brings Lian Beng's construction order book to a new high of $1.2 billion, and will provide the group with a substantial construction revenue flow through FY2016.

The three new contracts involve the construction of Oxley Tower @ Robinson, a hotel at 122 Middle Road, and Goodwood Residence.

Oxley Tower @ Robinson, secured from a wholly owned subsidiary of Oxley Holdings, is a 32-storey office building project at 138 Robinson Road. Work is expected to begin in May this year and be completed by July 2016. The contract is worth $86.25 million.

Lian Beng posts 25.7% fall in 9-mth profits

By

Teo Si Jia

         

Construction firm Lian Beng Group on Thursday reported a 25.7 per cent fall in its net profit for the three quarters to S$30.14 million from S$40.56 million a year ago - PHOTO: SPH

Construction firm Lian Beng Group on Thursday reported a 25.7 per cent fall in its net profit for the three quarters to S$30.14 million from S$40.56 million a year ago.

 

It attributed the fall to higher operating expenses, which grew 32.5 per cent to S$3.85 million, lowering its gross profit margin.

Turnover for the nine-month period ended Feb 28 rose 5.1 per cent to S$350.66 million from S$333.65 million a year earlier.

The group's order book currently stands at S$986 million, with projects running into FY2016.

Lian Beng's order book tops $1b mark

Latest two deals are light industrial developments for Oxley Holdings

 

By

ong chor hao

         

Mr Ong Pang Aik: Lian Beng aims to maintain its momentum in securing more projects. - FILE PHOTO

RIDING on its contract momentum, Lian Beng Group has clinched two more deals worth $201 million, bringing its order book to a record high of almost $1.09 billion.

The construction group said yesterday that the contracts are for the building of two multiple-user light industrial developments for Oxley Holdings.

The deals follow a $220 million construction contract for Bartley Ridge condominium (a Hong Leong Holdings, City Developments and TID project), won on March 25, and a $117 million contract to build TG Development's Skies Miltonia condo at Yishun clinched on Feb 18.

"We are delighted to have reached the billion-dollar mark for our order book. Notwithstanding, we will not rest on our laurels but will aim to maintain our momentum in securing projects," said Ong Pang Aik, Lian Beng chairman and managing director.

Lian Beng clinches S$117m condo contract

By

Carine Lee

         

 

Turnover for the period ended Nov 30, 2012 slipped 1.2 per cent to S$234.92 million from S$237.67 million

     

Construction group Lian Beng has, through its wholly-owned subsidiary, Lian Beng Construction (1988) Pte Ltd, bagged a S$117 million condominium development project.

The construction of Skies Miltonia will start in March this year and is expected to be completed in 33 months.

The development, located at the junction of Yishun Ave 1 and Miltonia Close, will have eight 13-storey residential blocks with penthouses and one three-storey residential block, totalling 420 units. It will also have a basement car park, swimming pool, communal facilities and shops.
Lian Beng's order book stands at S$664 million to date.

Lian Beng JV wins $169m condo contract

By

Teo Si Jia

        

THROUGH its joint venture company, Lian Beng has won a contract worth $169 million from Luxury Green Development Pte Ltd.

The member of Hong Kong-listed Cheung Kong Holdings has contracted Paul Y - Lian Beng JV Pte Ltd for the main building works, including the construction, completion and maintenance of its condominium project at Upper Thomson road, Thomson Grand. The ownership of Paul Y - Lian Beng JV is jointly shared by wholly owned subsidiary Lian Beng Construction (1988) Pte Ltd and Hong Kong-listed Paul Y Construction & Engineering Pte Limited.

The nine 20-storey blocks of 339 units, 22 two-storey strata landed houses, basement carpark, swimming pool and other ancillary facilities will be built on a 224,000-sq-ft plot of land.

Work on the project is scheduled to begin this month and is due for completion in February 2015.

Lian Beng’s 9MFY2012 net profit up 10.0% yoy to S$40.5 million

• 9MFY2012 net profit reaches 83.4% of FY2011 net profit

• Group continues to grow ready-mixed concrete business segment in preparation for proposed listing of its engineering and concrete business in Taiwan

• Cash generative business and sound investment brought cash and cash equivalent higher at S$178.3 million as at 29 February 2012

• Strong construction order book of S$742 million as at 29 February 2012 keeps Group busy through FY2015

Lian Beng wins S$98m worth of deals from unit, HDB

By YEO AIQI


Lian Beng Group Ltd on Tuesday announced that its unit, LS Construction Pte Ltd, has secured contracts worth about S$98 million.

They are S$13.2 million contract from Housing and Development Board, Singapore (HDB) and S$84.5 million contract from Lian Beng Centurion (Mandai) Pte Ltd (LBCM), a subsidiary of the company.

HDB's contract is expected to be completed by September 2013 and comprise of proposed building works at Tampines Neighbourhood.

LBCM's contracts comprise of proposed erection of a 10-storey ramp-up factory at Mandai Estate and due to be completed by May 2013 and two blocks of 12-storey independent worker's dormitory development at Mandai Estate. The latter is due to be completed by May 2013.

The HDB's 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 financial year ending May 31, 2002.

The LBCM's contracts are not expected to have a material financial impact on the net tangible assets per share and earning per share of the Group for the financial year ending May 31, 2012.

Dragon Mansion sold for S$130m

By CARINE LEE


Dragon Mansion, a 68-unit residential development located within walking distance to the Tanjong Pagar and Outram Park MRT stations, has been sold for S$130 million.

The price translates to $1,093 per square feet per plot ratio.

The 38,618 sq ft site was sold to Spottiswoode Development Pte Ltd, a 50:50 joint-venture company owned by Lian Beng Group and Centurion Properties Pte Ltd.

Each owner of Dragon Mansion will receive sale proceeds of about $1.91 million.

Lian Beng’s 1QFY12 net profit grows 76% year-on-year to S$19.3 million

• 1QFY12 revenue increased 21% year-on-year to S$135.8 million

• Cash generative operations contributed to cash position of S$181.4 million as at 31 August 2011

• Order book of S$761 million as at 31 August 2011 provides continuous flow of activities

SINGAPORE, 10 October 2011 – One of Singapore’s home-grown listed construction groups, Lian Beng Group (“Lian Beng” or “the Group”) (联明集团) reports a 76% increase year-on-year in net profit to S$19.3 million in 1QFY12 from S$11.0 million in 1QFY11 on the back of a 21% increase yearon- year in its 1QFY12 revenue to S$135.8 million from S$112.3 million.

Following a record set of results for FY2011 ended 31 May 2011, the Group achieved steady revenue contribution from its core construction segment, property development as well as ready-mixed concrete segments in 1QFY12.

The improvement in the Group’s net profit margin was also due to a one-time gain of S$7.9 million from the sale of its New Industrial Road investment property. Correspondingly, the Group’s net profit margin improved by 4.4 percentage points to 14.2% in 1QFY12 from 9.8% in 1QFY11.

Net cash generated from operating activities amounted to S$32.6 million during the quarter under review. On an operationally efficient and cash generative structure, the Group cash and cash equivalents stood at S$181.4 million as at 31 August 2011.

Lian Beng proposes spin-off of subsidiaries for primary listing on Taiwan Stock Exchange

• Wholly owned subsidiary Lian Beng Engineering & Machinery and 90% owned Sinmix Pte Ltd to be spun off to achieve independent valuation and provide clearer credit profiling for its future business growth
• Group obtains pre-clearance from SGX-ST on spin-off
• Group to convene EGM to seek approval from shareholders; believes proposed spin-off can bring long term value to shareholders

Lian Beng’s FY11 net profit increases 100.7% to S$48.6mil;

Lian Beng’s FY11 net profit increases 100.7% to S$48.6mil;


proposes dividends of 1.6 cents per share

• Revenue increased 46.7% to S$507.3 million from S$345.7 million in FY10

• Cash and cash equivalents at a healthy S$149.9 million as at 31 May 2011, up 111.7% from S$70.8 million as at 31 May 2010

• Proposed dividends of 1.6 cents per share for FY11 is 100% more than 0.8 cents per share in FY10 and represents a stellar 4.2% dividend yield

• Robust order book of S$839 million to contribute towards top line through FY14