Lian Beng Group looking at a strong year ahead

Earnings set to take off.

The imminent rise of property development earnings and the forthcoming launches of ex-Seletar Garden and Changi Road sites will help propel Lian Beng Group this year, according to Maybank Kim Eng.

Here's more from Maybank:

Strong year to come. Lian Beng posted a full-year revenue of SGD505.6m (up 13.6% YoY) on contributions from its construction and manufacturing of concrete arm and net profit of SGD39.4m (down 24.3% YoY). Excluding a one-off SGD7.9m gain from sale of investment property in FY5/12, net profit would have fallen by 11%. We expect property development earnings to begin to shine through as well as ex-Seletar Garden and Changi Road sites to launch in the following year. Maintain BUY with TP raised to SGD0.69.

Within expectations. FY5/13 underlying net profit of SGD39.4m was within expectations mainly because of strong construction earning and manufacturing of concrete which was offset by a lack of property development earnings and a contraction in construction margins. A final dividend of SGD1.25cts was announced, lower than last year’s of 2cts.

Residential stakes to bear fruit. To recap, Spottiswoode Suites (exDragon Mansion), Midtown Residences (ex-Hougang Plaza), KAP Residences (ex-King Albert Park), NEWest (ex-Hong Leong Gardens) were launched respectively in FY5/13. So far the residential take-up rates are impressive - 89.6%, 60.6%, 98.2%, and 62.5% respectively. We understand for NEWest, all residential units have been sold out, with the remainder of unsold units as Triplex Town Houses that require a higher nominal amount for investors to fork out. Commercial units have almost been fully sold for MidTown Residences, KAP Residences and NEWest with ASP of approximately SGD5,500 psf.

Stay true to the core. As of now, Lian Beng’s construction book continues to be very healthy and stands at SGD1.3b through FY5/16, In 4
th quarter alone, Lian Beng won five contracts totaling SGD411m – Oxley Tower @ Robinson, ex-Midlink Plaza turned hotel, Goodwood Residences, Flora Drive and a 12-storey office block.

Maintain BUY. Lian Beng continues to execute strong earnings in its core segment. Maintain BUY, TP raised slightly at SGD0.69.

You're the reader we write for. You're also the person our partners want to reach.

If that sentence describes you — a founder, a C-suite, someone whose attention companies pay good money for — then you already understand why SBR works. We've spent twenty years earning the trust of readers exactly like you. Which is exactly what makes this an interesting place for your company to show up, too.

The ways it can show up are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The right fit depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If your company has something this audience should know about, we'd like to hear what you're working on.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

30 One-Sentence Stories From People Who Have Built Better Habits

None of these stories are mine. They were sent to me by readers of Atomic Habits. My hope is that these examples will illustrate how real people are putting the book into practice. They will show you what people are actually doing to build good habits and break bad ones. And hopefully, they will spark some ideas for how you can do the same.

news conversion

SBR 5 Lorem Ipsum News 2 [8 May]

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

SBR 4 Lorem Ipsum [8 May Top Stories]