Lian Beng Group

UOB and OCBC favoured for growth and valuation; Sunningdale, Fu Yu touted as yield and privatisation plays

SINGAPORE (July 15): On July 8, construction company Lian Beng Group announced that it had won contracts worth $235 million to build a logistics centre at Boon Lay. The company’s net construction order book now stands at about $1.5 billion. That is about 58% higher than the $947 million at the end of its last financial year ended May 31, 2018.

UOB and OCBC favoured for growth and valuation; Sunningdale, Fu Yu touted as yield and privatisation plays

SINGAPORE (July 15): On July 8, construction company Lian Beng Group announced that it had won contracts worth $235 million to build a logistics centre at Boon Lay. The company’s net construction order book now stands at about $1.5 billion. That is about 58% higher than the $947 million at the end of its last financial year ended May 31, 2018.

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SLB sinks into the red with 3Q losses of $3.5 mil on lower revenue

SINGAPORE (Apr 12): SLB Development, the development spin-off from Lian Beng Group, today announced that it has made a loss of $3.5 million in 3Q19, compared to earnings of $1.9 million in 3Q18.

This was mainly due to lower revenue and share of losses from joint ventures and associates.

For the 9M19 period, the group recorded a loss of $6.5 million, compared to earnings of $14.5 million in 9M18.

Lian Beng posts 55% drop in 3Q earnings to $3.6 mil

SINGAPORE (Apr 12): Construction firm Lian Beng Group saw its earnings fall 55.3% to $3.6 million for the 3Q19 ended February, from $8.1 million a year ago.

The decline was mainly attributable to share of loss of associates and joint ventures of $3.1 million in 3Q19, compared to share of gain of associates and joint ventures of $2.5 million a year ago.

Lian Beng subsidiary wins $117 mil construction contract

SINGAPORE (Mar 18): Lian Beng Group says its wholly owned subsidiary, Deenn Engineering, has a secured a contract worth $117 million to construct a building over a period of three years starting from Mar 19.

Details of the building’s location, space and functionality, nor the vendor, were not disclosed.

In a Monday filing, Lian Beng says it expects the latest contract win to contribute positively to its current financial year ending May 2019.

The group adds that its construction book now stands at $1.32 billion as at Mar 18, after factoring the latest contract.

Centurion and Sunseap ink 20-year solar power agreement

SINGAPORE (Feb 25): Centurion Corporation and Sunseap Group have signed a 20-year solar power purchase agreement for a workers dormitory in Singapore.

The dormitory – ASPRI-Westlite Papan – is located at Jalan Papan and was built by developer Centurion-Lian Beng (Papan), a joint venture between Centurion and Lian Beng Group.

Under the agreement, Sunseap will be constructing and installing a 170 kilowatt peak solar system on the rooftop of the property. The solar photovoltaic system will help reduce its carbon footprint by a third.

Lian Beng posts 21% growth in 2Q earnings to $7.7 mil

SINGAPORE (Jan 15): Lian Beng Group reported $7.7 mil in earnings for 2Q19, up 21.3% from a year ago due to higher margins.

Revenue came in 15.3% lower at $79.9 million compared to $94.4 million in 2Q18, as lower sales contribution from the Property Development segment offset higher sales from the Construction and Investment Holding segments.

Cost of sales fell 21% to $63.5 million over the quarter, which the group says in line with the lower revenue.

Heeton-KSH-Oxley-SLB JV delays Nov launch of Gaobeidian project amid trade war

SINGAPORE (Oct 21): Heeton Holdings, KSH Holdings, Oxley Holdings and SLB Development have delayed the November launch of its Gaobeidian project in China.

This is due to uncertainties arising from ongoing trade war between the US and China, the JV said in a filing on Friday night.

The JV is investing RMB145 million ($28.8 million) in the developer of a property project in Gaobeidian in Hebei province.

Lian Beng posts 39% fall in 1Q earnings to $7 mil on change in reporting standards

SINGAPORE (Oct 12): Lian Beng Group reported a 38.9% drop earnings to $7 million in 1Q19 earnings ended August from $11.4 million in 1Q18 due to a change in reporting standards.

In 1Q19, the group’s 74.41%-owned property development arm, SLB Development (SLB), implemented the adoption of new SFRS reporting standards (SFRS(I)15), where revenue and cost of units sold for development properties are now recognised progressively according to the progress of construction work.

SLB was listed on the Catalist Board in April.

Heeton, KSH, Lian Beng jointly acquire Hotel Indigo Glasgow in Scotland

SINGAPORE (Oct 3): Heeton Holdings, KSH Holdings and Lian Beng Group have jointly acquired Hotel Indigo Glasgow in Scotland on Monday.

The consortium is led by Heeton, which holds an effective interest of 60%, while Lian Beng and KSH have 20% each. This is the consortium’s first hospitality asset in Scotland.

The property is located near the Glasgow Central station and is well placed for Glasgow’s central business district (CBD) area, tourist attractions and shopping districts. It is also a 15-minute drive away from the airport.

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