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Lian Beng
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HazardKoh
Master |
09-Aug-2016 18:04
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To whoever, I will prove you wrong, very wrong. TOP of hexacube is end of this year or early next year and is not 2019 as you claimed. Dun cheery pick information and mislead other readers. Cheers. Both Mandai foodlink and Hexacube are TOPing soon. |
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HazardKoh
Master |
09-Aug-2016 18:02
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To all reading this thread, you all can judge for urself... I admit I am not an expert in financial theories, some ppl attack my views on Lian Beng calling my views naive etc, they use a lot of financial terms and big words to rebute me. If I sounded boostful, i apologise. Maybe I sounded too confident and incur the wrath of many ppl who strangely enough are bend on attacking me and Lian Beng. Some even dig out information from other company annual report , eg: KSH to prove I am wrong, eg: TOP of hexacube which i said is this year while someone quoted from KSH saying TOP of Hexacube is in 2019. This shows they go to extreme to dig out information just to prove I am wrong. But i leave it to other users to judge whether I talking nonsense or I am truely sincere in my views. Cheers.
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HazardKoh
Master |
09-Aug-2016 17:51
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Very bad to twist Bro Win words to sow discord between Bro Win and I. Obviously Bro win thinks Lian Beng is a good counter but he is worried when market undergoes major correction, even good counters (including Lian Beng) will take a hit. But he is willing to queue for Lian Beng at 40-43 cents despite of his fear of a major market correction. And U twisting his words and says he talks bad about Lian Beng? haha.. other users will know your real intention. Bro Win and I has been good pal in this forum for a long time and he knows I am sincere and genuine, likewise for Bro win, he is a trustable user and if he says he is buying lian beng, that means Lian Beng is good. Please dun twist his words.
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HazardKoh
Master |
09-Aug-2016 17:47
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To whoever: Both of us posted SELECTIVELY. U posted TOP 2019, I posted TOP this year. Your view: Quote: " Hexacube and Mandai Foodlink TOP by end of this year [My view: Refer to slide 30 of KSH FY2016 Results Briefing May 31 2016, the target completion date of Hexacube is June 2019]" My view: Hexacube going to TOP this year based on the latest development. Users will soon know who is correct.. Cheers. Will bump this thread once I get the information for Hexacube TOP.
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HazardKoh
Master |
09-Aug-2016 17:43
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Potential co-operate action... hopefully we see a halt soon
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HazardKoh
Master |
09-Aug-2016 17:42
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26 Jul 2016 The Business Times By MINDY TAN A THOROUGH study of Lian Beng Group' s complicated group structure is required if you want to scratch the surface of what the firm is about. The group divides its operations into four main segments - construction, property development, other construction-related business, and investment holding and dormitory business - but each segment splinters off into different areas of specialisation. Diversification is a driving force for the group, which very early on recognised the need to reduce dependence on a single industry sector and has conscientiously sought to expand its business to related sectors. " When we first started in construction we didn' t just concentrate on one type. We have built HDB flats and private condominiums, schools, and libraries. We are very diversified that way, whether in construction or the types of properties we invest in," says Ong Pang Aik, chairman and managing director of Lian Beng Group. Today, the group is an A1 grade contractor with the Building and Construction Authority (BCA) in General Building. This ranking allows the group to tender for public sector building projects of unlimited contract value. Construction continues to form the bulk of the group' s revenue, but demand has been softening. " Demand in Singapore has been softening because of the cooling measures," says Mr Ong, although he is quick to add that having other construction-related businesses available in-house - this segment of their business engages in scaffolding works, ready-mixed concrete, rebar fabrication among others - helps to soften the blow. This is also one of the reasons why the group has been actively growing its property development and investment holding and dormitory business. The group has, for instance, teamed up with Centurion Corp to build and operate two dormitories. The 55 per cent-owned Westlite Mandai Dormitory has been in operation since 2013 while construction at the new dormitory at Jalan Papan was recently completed. Also under its investment holding portfolio is a heritage commercial/office building within Melbourne' s central business district. The property, which is located in Collins Street, was acquired by Lian Beng Ventures (Melbourne). It is not only in Australia that the group is actively acquiring properties. It is in a Heeton Holdings-led consortium which has, in quick time, made four purchases in the UK. The consortium made its maiden acquisition in Hammersmith in March 2015 and quickly followed this up with a 106,722 square foot site located within Leeds City Centre. It added two more hotels to the pack in February this year. Heeton has a 55 per cent stake in this consortium while Lian Beng, KSH Holdings and Leeds Investment & Development split the remaining 45 per cent stake. In April this year, Lian Beng teamed up with Heeton and KSH again - this time in a 40-30-30 split - to acquire its fifth hotel property, in Manchester. Mr Ong acknowledges that the group has its finger in many pies. Far from professing to have all the requisite expertise, he nods to the joint venture (JV) model as the source of the company' s successful entry into new territories. " For the UK, we partnered Heeton because Heeton has been in the UK for the past few years. They have an active team there looking for sites and managing hotels. And then for dormitories, we have Centurion," says Mr Ong. Beyond leveraging the individual expertise of the JV partners, it is also about sharing the risk. " Especially for overseas (ventures) we have all these risks, so we try to go in together to get a feel for the country . . . once we know the market better we might go in with a bigger stake or we might manage on our own." Lian Beng has in fact recently started investing in Australia on its own. Their first venture into the Australian market was with Heeton and KSH to co-develop a A$150 million (then S$174.1 million) hotel and residential development in Brisbane in 2014. In June 2015, they acquired a freehold Melbourne property with a total site area of about 478 square metres and in October of the same year, they went on to acquire a freehold plot with a total site area of about 1,803.6 sq m at St Kilda, also in Melbourne. While the focus now is on investing in viable assets overseas, the group does not rule out bringing its construction expertise to its target markets. " Our view is since we are already in the UK and Australia, we are looking at doing some construction management, and bringing our expertise overseas as well," says Mr Ong. " Our construction arm has been around for the last 40 years so I think that there is something on the table which we can bring along with us. We are in talks with contractors in Australia and the UK we might firm up something there for construction as well." Mr Ong is sanguine about the company' s future, confident in the diversification built into the group' s business model. They are far from resting on their laurels however and still have further diversification plans - the group in August 2014 obtained approval from its shareholders to diversify into the automotive business but have been relatively quiet on that front. That being said, construction will continue to form the core of the group' s business. Says Mr Ong: " Construction will still be the largest contributor for at least the next two years. Slowly, with all of this (investments assets) coming in, we hope the segments will complement each other ... After two years we will have to see whether the cooling measures are lifted, what kind of Government Land Sales land comes up, before we can know if demand for construction will go up." Source: The Business Times © Singapore Press Holdings Limited. Reproduced with permission
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HazardKoh
Master |
09-Aug-2016 17:40
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Lian Beng eyes spin-off Taiwan listingPosted on September 20, 2011 CONSTRUCTION company Lian Beng Group is proposing to spin off its engineering and concrete business for a primary listing on the Taiwan Stock Exchange (TWSE). This segment of the group&rsquo s business comprises two companies. The wholly owned subsidiary Lian Beng Engineering and Machinery is involved in the engineering and leasing of construction machinery, while 90 per cent-owned Sinmix deals primarily in the manufacturing of concrete. The parent company is listed on the Singapore Exchange (SGX). In its announcement, it did not state why it preferred a Taiwan listing over a Singapore one. In a press release, Lian Beng executive chairman Ong Pang Aik said that both units have grown to a sizeable scale for a separate listing. He added that the funds raised by the proposed spin-off will help the expansion of the group&rsquo s engineering and concrete business. The proposed listing will enable the engineering and concrete business to achieve its own independent valuation and provide more clarity on its credit profiling, allowing it to establish its own future business growth, said Mr Ong. By doing so, Lian Beng&rsquo s engineering and concrete business would be able to attain financial independence to fund its own growth and investment plans. Lian Beng said a separate listing would also allow investors and shareholders to independently assess the market value of its engineering and concrete business and enable an independent valuation of that particular business segment. Lian Beng has already won pre-clearance from SGX for this proposed spin-off. It will also be convening an extraordinary general meeting at a later date to seek approval from its shareholders. The group said it is in the process of identifying the relevant professional parties to work on the proposed listing. Lian Beng&rsquo s board of directors has highlighted that there is no assurance the proposed listing will be approved by TWSE, or be approved of by shareholders. The company said it will announce any material updates when appropriate. CHERYL LIM Source: The Straits Times © Singapore Press Holdings Ltd. |
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LianBeng
Member |
09-Aug-2016 16:25
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On post 9 August 2016 13.30, predict construction arm to be IPO. My view: Construction profit drop from $39.8m(2015) to $10.7m (2016). Order book drop as follow: 2014 Q2: $1,000m Q3: $1,100m Q4: $1,200m 2015 Q1: $1,000m Q2: $800m Q3: $640m Q4: $552m 2016 Q1: $452m Q2: $350m Q3: $385m (including 51% T-Space $118m) Q4: Not provided
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HazardKoh
Master |
09-Aug-2016 13:34
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Bro win, you think Lian Beng is good or bad? :) Cheers |
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HazardKoh
Master |
09-Aug-2016 13:30
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When a counter has potential value, sooner or later , good things will happen. Will Lian Beng become Sim Lian? The answer is ' No' for the short term. But after 1-2 years when most of it' s development TOP and part of debts cleared, it will become a holding company for properties, dormitory, overseas properties and hotels (JV).. and I got a feeling they will list it' s construction arm via IPO. Then it will start to attract take over attention. So buying Lian Beng now is not for capital gain, but for dividends + potential capital gain perhaps 1 year later. Those who are phobia of debts should not be buying Lian Beng at this stage. But i believe Lian Beng value will be unlocked when the current debts produce fruits. But when the debts becomes " fruits" , the share price will not be 40+ cents already. The question is whether you want to take some calculated risks and buy Lian Beng now or wait until the debts is parred down but share price will be higher definitely. The risks I can see if when a global meltdown occurs, one that is worse than 2008 when properties crash to all time low , eg: a cheap 3 room private condo crash from $800k to $500k, when banks go bankrupt etc.. Then Lian Beng will have to take a hit, having to declare huge negative fair value loss for all it' s properties it is holding. But when such major collapse happens, not only Lian Beng, ALL companies will take a hit. So is better not to touch shares if you think a super major crash is coming. Cheers
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HazardKoh
Master |
09-Aug-2016 13:20
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UPDATE on the TOP of Hexacube and Mandai Foodlink. The top of a building depends on the progress of the construction. Lian Beng being a grade A1 building and with it' s vast experience and reputation, normally Lian Beng is able to finish ahead of time. So naturally stated date of TOP will differ from the initial launching. 
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HazardKoh
Master |
09-Aug-2016 13:16
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Hi bro edwin. I have known bro win for a long time. He knows I am sincere and genuine and I know bro win can be trusted too. Thanks for supporting Lian Beng, queuing at 40 to 43 cents is a sensible thing to do as the lower trading range of lian beng lies somewhere around 42-44 cents. Ya, during a major correction, even good counters will also go holland, so naturally you have a case for worrying about a good counter like Lian Beng share peice been hit during a major correction. But with it' s NTA of $1.10, the support will be around 40 cents during a major correction. So queuing 40-43 cents is a smart move.
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LianBeng
Member |
09-Aug-2016 10:32
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Later the " Someone" will said you talk bad on Lian Beng :-)
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edwinjup
Supreme |
09-Aug-2016 10:03
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A bit worry that market will undergo major correction after US election...so even good counters will also go holland....i still q l03 from 40 to 43 now b4 div 😃 but i missed sim lian....lol
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hotokee
Master |
09-Aug-2016 09:41
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Construction contracts are dwindling, but can company has to endured two obstacles, teething of the new business, and sweating in the old business. |
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LianBeng
Member |
09-Aug-2016 09:36
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Extracted &ldquo Someone&rdquo post dated 29 May 2016 19.38 on Lian Beng from Chip Eng Seng thread. Profit expected to be > last year by 30% [Actual: Profit < last year by 20%] Dividend more than last year of 2 cents, should be 2.5 or 3 cents [Actual: 2 cents as last year] In this Brother Deleted Lian Beng thread, he also predicted that Lian Beng will form Reits and issue bonus shares like KSH. [My view: Refer to my previous post, it is low chance to form Reits due to the size and contribution from Investment Properties] In the post dated 07 Aug 2016 13.00 of this Brother New Lian Beng thread, he predict 2 cents interim dividend In Jan 2017. [My view: Just simple predict without explain how the very good profits derived]. There are some information from his post as follow: Hexacube and Mandai Foodlink TOP by end of this year [My view: Refer to slide 30 of KSH FY2016 Results Briefing May 31 2016, the target completion date of Hexacube is June 2019] Worst drop to 42 cents, well supported by the NTA [ My view: The Group recorded about $100m fair value gain on investment properties (mainly Dorm like Westlite Mandai and Westlite Papan) for the past few year which contribute significant to the NTA. If the Dorm business not perform well, the fair value of Dorm will drop and affected NTA] Getting back their capital progressively and one lump sum (for industrial buildings) and the debts will be greatly reduced [My view: Same as previous, this Brother still can&rsquo t differentiate the Revenue recognition and Cash flow. Industrial Building recorded revenue in lump sum upon TOP, but received proceed progressively. Anyway, he may just said not care about cash flow per his previous post] Most of Lian Beng debts is going to be cleared by end of next year [My view: The bank borrowings of properties development projects under Associate company are not recorded as part of the Group&rsquo s bank borrowings. Refer to page 124 to 133 of Annul report 2015, the total borrowing is $277m as at 31 Dec 2015. Total borrowings of $190m are not expected to cleared by end of next year due to $101m for Westlite Mandai, $52m for Tampines North Drive 1 (just launched) and $37m for Lee Keng road (no status update). The borrowing increased from $277m (31 Dec 2015) to $428m (31 Dec 2016) due to acquisition of St Kilda, advanced of $45m to Westlite Papan (just open this year) and other investment properties ie. Ang Mo Kio.]
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HazardKoh
Master |
28-Jul-2016 18:03
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I bet someone will come in and say i talking nonsense and lian beng is a lousy counter :) dun know why so many , even those supposedly vested in lian beng would like to attack lian beng. Well, I always say let the share price does the talking is the best Cheers |
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HazardKoh
Master |
28-Jul-2016 15:38
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u locked in too fast liao... Mandai foodlink will be the next catalyst for it to chiong pass 55 cents.. OCT this year TOP. Cheers
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edwinjup
Supreme |
28-Jul-2016 11:41
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Thanks bro.i locked in profit liao....market dont look good.....
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LianBeng
Member |
28-Jul-2016 11:34
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Some points on the Full year results for consideration: Share of results of associates - S$62.1m - Included the fair value gain of S$24.5m arising from Space @ Tampines and Dormitory @ Jalan Papan Fair value on Group&rsquo s investment properties - Westlite Mandai fair value movement (2016: S$270m , 2015: S$270m , 2014: S$220m) - What are the potential exposure of fair value loss if dormitory business slow down. Amount due from associates &ndash S$45.0m - Relating to Dormitory @ Jalan Papan which just completed this year Net asset value &ndash S$1.09 - How much related to fair value gain on investment properties? Para 10, events affect the group in the next 12 months - No update on order book - No update on projects status ie. % sold, % completion (LB partner like KSH, Oxley and Centurion are provide the necessary information) Business segment profit/(loss) - Construction profit drop from S$39.8m to S$10.7m - Concrete & asphalt loss increased from S$1.5m to S$6.0m - Property development loss increased from S$1.9 to S$3.0m - Associate & JV profit (under elimination) increased from S$38.8m to S$99.2m (included S$24.5m fair value gain) |
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