Lincotrade    Last:0.29   -

Lincotrade: New Growth Biz after RTO of Fabchem

Natural progression for them to move into property development....they are so well versed in showflats and A& A works...best to do landed properties..which is coveted for many Singaporeans. Now HDB already cost at least S$1m easily.

 

 

Coincidentally, PM Lee on official trip to Saudi Arabia (and UAE) too

https://www.straitstimes.com/singapore/pm-lee-on-official-visit-to-saudi-arabia-and-the-uae

Wonder if Lincotrade is part of PM Lee official business delegation? 

Wont be surprised if Lincotrade manage to clinch contracts from Saudi and UAE :)

Huat ah!!! 
 

 

 

This one dont even have buyers and sellers how to trade?
No matter how good news also no use
 

 

The interesting perspective is that they are going Saudi Arabia to showcase. The world is in a high interest rate environment, real estate will be bad ard the world. Only the rich like the Saudis has the possibility of continuing in their investment in real estate!

 

 

 

 

 

 

 

 

 

$(BFT.SI) lincotrade. Significant deal! A 35m asset enhancement deal. Order book at $78m.

https://www.businesstimes.com.sg/companies-markets/lincotrade-secures-s35-million-asset-enhancement-contract-integrated-development

 

 

 

 

Construction firms see post-Covid recovery, but workplace safety, dengue weigh on productivity
WED, AUG 17, 2022 - 5:52 AM

CONSTRUCTION firms have seen a turnaround in fortunes in the first half of the year as loosened Covid-19 restrictions have allowed more migrant workers to enter the workforce, giving the industry a much-needed shot in the arm.

Still, it appears that workplace safety and dengue infections continue to weigh on productivity as companies ramp up their work.

According to data from the Ministry of Trade and Industry (MTI), construction activity grew 3.3 per cent year-on-year in the second quarter of this year. This came on the back of expansion in both public and private sector construction output.

For the half-year ended June 2022, Chip Eng Seng : C29 0% reported a 75.1 per cent year-on-year rise in construction revenues to S$288.4 million. This was driven by higher contributions from 5 HDB projects in Sengkang, Pasir Ris and Woodlands, as well as a Land Transport Authority contract relating to the construction of the Jurong Region Line.

Notably, the Marsiling Grove HDB project in Woodlands was taken over by Chip Eng Seng after Greatearth Corporation and Greatearth Construction went bust last year.

Similarly, Lian Beng Group : L03 -0.94% reported a 49.6 per cent increase in construction revenue to S$639.5 million for the financial year to May 31. The company attributed this to the easing of safe management measures that had restricted the entry of foreign workers into Singapore.

Lian Beng noted, however, that the value-add of the construction sector remains 23.7 per cent below its pre-pandemic level as migrant worker inflows have not been sufficient to meet industry demand. It also cited rising interest rates and higher construction material costs as potential headwinds.

Aside from the shortage of workers, companies have also seen productivity impacted by workplace accidents.

In a report dated Aug 12 on ready-mix concrete supplier Pan-United Corporation : P52 +2.27%, Phillip Securities Research senior research analyst Terence Chua said that while revenue for the company met his expectations, profit fell short as a result of higher staff and materials costs.

Pan-United posted a net profit of S$13.5 million for the half-year ended June, 94 per cent higher than the same period a year earlier.

Chua further noted that the company&rsquo s management had indicated that volumes declined by 10 to 15 per cent as a result of stop-work orders issued by the authorities at construction sites. He maintained &ldquo buy&rdquo on the company with a lower target price of S$0.54, from S$0.68 previously, on account of the &ldquo still uncertain business environment&rdquo .

On Aug 4, CAD Associates and KHC Development were issued stop-work orders and fines by the Ministry of Manpower after safety inspections found the 2 companies had unsafe worksites.

As of Aug 3, there have been 32 worksite fatalities this year. There were 37 fatalities reported in 2021 and 39 in 2019.

Hong Leong Asia&rsquo s : H22 +1.37% chief executive Stephen Ho said at the company&rsquo s earnings briefing on Aug 12 that workers who had gone home during the pandemic and subsequently returned may not be as productive as workers who had remained in Singapore. On average, he said it takes about 2 to 3 months for returning workers to reach an &ldquo acceptable productive stage&rdquo .

Steel solutions provider BRC Asia noted in its third quarter business update on Aug 2 that the spate of stop-work orders issued as a result of workplace accidents and dengue outbreaks had impeded project progress at worksites.

As at Aug 12, Singapore has recorded 24,039 dengue cases, eclipsing the 5,258 cases logged in the whole of last year.

Still, in their report on BRC Asia dated May 12, CGS-CIMB analysts noted that these transient issues should be alleviated in the coming quarters and that the construction sector is likely to continue recovering. They maintained their &ldquo add&rdquo call on the company with a target price of S$2.50.

 

This is good for Lincotrade as they do many hotel fit-out and upgrade jobs...like citadines of capitaspring and fraser (capri) chinatown.

Singapore hotels rake in highest revenue per available room since start of Covid-19 pandemic: STB data

SINGAPORE hotels raked in the highest revenue per available room (RevPAR) in June, the highest since the Covid-19 pandemic began. Average room rates also hit a 6-year high, data from the Singapore Tourism Board (STB) showed.

The average room rate in June was S$238.32 &mdash the highest since September 2016. Year on year, the jump was 63.1 per cent month on month, the growth rate was 7 per cent.

Average occupancy rates hit a 6-month high at 77 per cent, just 6 percentage points shy of the pre-pandemic rate of 83 per cent clocked in December 2019 and January 2020.

These numbers have pushed RevPAR to its highest since January 2020 &mdash at S$183.31, a result that has surprised some market watchers.

Geraldine Wong, a property analyst from DBS, said: &ldquo Our base-case assumption assumes for RevPAR to return to pre-Covid (level) by 2024 &mdash which looks to be conservative now, given the strong hotels data in the year to date. A more likely scenario would be by 2023.&rdquo

She told The Business Times that a similar trend of RevPAR exceeding 2019 levels was also recorded in the United States over the summer.

&ldquo The heightened RevPAR, we would think, can be associated with more room to up ADR (average daily rate) by hoteliers as leisure and corporate demand gains visibility and traction, inflation and heightened operating costs such as utilities,&rdquo she said, adding that the &ldquo dynamic nature&rdquo of hotel pricing also helped.

Govinda Singh, executive director for Asia hotel and leisure at Colliers, said hoteliers are likely using pricing to manage demand, given the current labour shortage, and to preserve service levels.

Compared to the first six months of 2021, average room rate in the first half of this year rose 40.8 per cent year on year to S$210.30. Average occupancy rate was up 17.3 per cent year on year to 67.2 per cent.

Meanwhile, RevPAR for H1 jumped nearly 90 per cent to S$141.33, compared with the same period last year.

For the first 6 months of the year, overall room revenue was S$1.07 billion, which is on par with the amount earned for the whole of 2021.

Overall room revenue for the industry hit S$292.8 million in June, more than 4 times the level recorded in the same month a year ago.

This comes as Singapore&rsquo s international visitor arrivals hit a new high of over half a million since the pandemic began in early 2020, although the figure was barely a third of the number of visitors that entered in June 2019.

Nonetheless, watchers say they are optimistic about the travel industry&rsquo s continued recovery, although they believe momentum could be slowed down in the coming months.

&ldquo We do believe that the lack of tourists from mainland China for the majority of 2022 will slow down the pace of recovery in the city state,&rdquo said Calvin Li, head of transaction advisory services for JLL Hotels & Hospitality Asia-Pacific.

&ldquo Additionally, we also believe that other source markets will still need some time to recover before reaching a more stabilised pace,&rdquo he said.

This means the sector may recover to pre-Covid-19 levels only by next year, assuming that the global economic and geopolitical situation does not worsen, he said.

Singh holds a similar view, and is expecting occupancy rates to return by the second quarter of 2023.

&ldquo Singapore will continue to benefit from open borders, tempered only by reduced airlift. However, some of this demand might slow into Q3, as schools reopen and pent-up demand driven by leisure VFR (visiting friends and relatives) plateaus,&rdquo he said.

Nonetheless, the industry&rsquo s performance could return to 80 per cent of pre-pandemic levels by year-end, he added.

Likewise, DBS&rsquo Wong said RevPAR could moderate after peaking in June and July, but added that it is likely to climb &ldquo further north&rdquo going into end-2022.