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SLB Development
On June 8, controlling shareholding Lian Beng Group acquired 3,936,500 shares of SLB Development (SLB) for a consideration of S$468,444. At 11.9 cents per share, this took its total interest in SLB, its Catalist-listed property developer spin-off, from 75.81 per cent to 76.24 per cent.
Ong Sek Chong & Sons Pte Ltd, Ong Pang Aik and Ong Lay Huan are the controlling shareholders of Lian Beng Group.
Back on Jan 13, SLB reported a net profit attributable to the owners of the company of S$3.6 million on the back of a significant 55.5 per cent year on year (yoy) growth in revenue to S$12.1 million for its Q2 FY20 (ended Nov 30). The net profit was a turnaround from a net loss of S$0.7 million in its Q2 FY19.
During Q2 FY20, the group, through its wholly-owned subsidiary, SLBF Pte Ltd, also entered into a joint venture with 32 Holdings Pte Ltd and Jeremy Choy Chun Min, to establish a fund management company, 32 Real Estate Pte Ltd.
Wee Teng Chuen joins SLB Development and 32Holdings' joint venture increases JVC' s paid-up share capital to $3 mil
Joint ventures and alliances
Felicia Tan 4/06/2020, 6:42pm
SINGAPORE (June 4): SLB Development, the property development subsidiary of construction firm Lian Beng Group, along with 32 Holdings (32HPL), and its wholly-owned subsidiary 32 Real Estate (JVC), have executed a subscription and shareholders&rsquo agreement with Wee TC Investments (WTCI), on Thursday.
The agreement was signed by SLB Development&rsquo s wholly-owned subsidiary SLBF.
WTCI is an investment holding company wholly-owned by Wee Teng Chuen, the son of Wee Ee Cheong, the CEO of UOB.
According to an SGX filing, WTCI will subscribe for 1 million ordinary shares of the JVC at an issued price of $1 per share.
Upon completion of the subscription, the issued and paid-up share capital of 32 Real Estate will increase to $3 million, comprising 3 million ordinary shares. 32 Real Estate will also be owned equally by SLBF, 32HPL, and WTCI.
Following the completion, Wee will be joining the JVC as an operating partner, and will be appointed as the fund management company&rsquo s managing director and head of capital raising.
Accordingly, SLBF&rsquo s interest in 32 Real Estate, will decrease from 50% to 33.33%.
SLB Development shares closed flat at 11.8 cents on Thursday.
https://www.theedgesingapore.com/news/joint-ventures-and-alliances/wee-teng-chuen-joins-slb-development-and-32holdings-joint-venture
CATALIST-LISTED property player SLB Development has obtained regulatory approval for its controlling shareholder Lian Beng Group to be given another time extension to dispose of competing business in Australia and Singapore.
Aside from an oversupply in the property industry in Singapore and weakness in Brisbane' s property market, Lian Beng expects that the coronavirus outbreak and bushfires in Australia are likely to dampen demand.
Lian Beng now has until April 19, 2021 to sell the leftover units in a freehold condominium development in Singapore and wind up or liquidate Phileap Pte Ltd, the special-purpose vehicle holding the unsold units. It also has until April 19, 2022 to sell two remaining properties in Australia.
NTA 15 cents. Almost ALL properties counter their share price half of NTA.. 21.5 cents still expensive..
chenkhoon ( Date: 27-Apr-2018 15:45) Posted:
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0.215 already wor ... behind IPO price.
wishbone ( Date: 25-Apr-2018 14:04) Posted:
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Now all IPOs from SGX can only tikam tikam and if alloted the share then MUST SELL ON the first day of trading.
Definitely not to hold for whatever reason.
These are all submarinea which will sink once they have started the journey.
Bon Voyage
Definitely not to hold for whatever reason.
These are all submarinea which will sink once they have started the journey.
Bon Voyage
Boat is sinking now.....!!!!
this stock holding well
Starship ( Date: 23-Apr-2018 16:49) Posted:
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Nowadays, companies that list in SGX are all laughing stocks. Most end up lower than IPO price for months to years to come.
The IPOs are like the Prawning Pond in Yishun:
- the ones fishing are the Company Founders, Executives, Asscociates, BBs, Early Investors, Placement Investors, Smart Money.
- the prawns are the retail investors.
Guess who ends up holding the bag?
Agreed eg like Decloud Tat Hong Tritech : Tee int all spinned off of mother share not perform well many underwater....
huathuat88888 ( Date: 21-Apr-2018 19:15) Posted:
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This stock will slowly drift to 20 / 21 cts. Like Fragrance. Then gradually slowly to 17 cts. Like Fragrance.
Stabilisation action only applies to Mainboard listed IPOs, does not apply to Catalist IPOs
Starship ( Date: 21-Apr-2018 16:40) Posted:
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ALL THESE SPINOFFS ARE TO " CONFUSE " YOU .
LIKE MM2 AND UNUSUAL. (UNUSUAL ALSO TRADING AT HUGE PREMIUM AT 13X ITS BOOK VALUE)
LIKE HEATHWAY AND IHC.
ULTIMATELY ONCE BBS $$ CHINK CHINK FROM BOTH ENTITIES , THEY WILL OR MAY THEN MERGE AT VERY "GOOD PRICE" AGAIN .
THINK TEELAND ALSO ?
FRAGRANCE ALSO?
tonylim70 ( Date: 21-Apr-2018 15:41) Posted:
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Need to see whether the IPO contract appoints a Stabilisation Manager to support the IPO price.
If there is, they will submit SGX announcement next week showing exactly how much they bought.
The high on it first trading day is 0.26, it low 0.24c n [email protected]
Trade Summary: More px [email protected]
Trade Summary: More px [email protected]
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Jackwoo ( Date: 20-Apr-2018 09:51) Posted:
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This one [email protected], huat lahh. :) The one at 0.24c :(
teeth53 ( Date: 20-Apr-2018 09:06) Posted:
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Investors just need to throw one stone and it will hit many strong promising property counters that are trading at big discount to their NAV. Why would retail investors need to pay for overpriced, overhyped counters.
Retail investors need to show the BBs and businessmen that we will not invest in overpriced stocks.
And that goes to stocks that have more holes than cheese.
And those that have plots thicker than korean dramas.
And those that even X-Rays can' t penetrate.
most of the properties counter are trading at a discount over it' s NTA. Lian Beng before selling it' s share in SLB is trading at a discount of around 50%.
This SLB is trading at a premium of over 60%.. wow.
This SLB is trading at a premium of over 60%.. wow.
simpleguy123 ( Date: 21-Apr-2018 15:31) Posted:
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Wow the share is overpriced!!!!
huathuat88888 ( Date: 21-Apr-2018 11:42) Posted:
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NAV : 15.74 CTS PER SHARE
CURRENT : 25 CENTS PER SHARE
LOTS OF MEAT
CURRENT : 25 CENTS PER SHARE
LOTS OF MEAT