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Lum Chang to build resort, indoor attraction for Mandai project
MON, MAY 04, 2020 - 9:29 AM
LUM Chang Building Contractors (LCBC), a wholly-owned subsidiary of mainboard-listed Lum Chang Holdings, has won a tender for the Mandai rejuvenation project, from Mandai Park Development.
The scope of the contract includes the construction of an arrival node, a transport hub, a nature-themed indoor attraction and a resort, Lum Chang Holdings said on Monday, without disclosing the total contract value.
The latest award brings the outstanding value of construction works yet to be reported as LCBC&rsquo s revenue to about S$1.8 billion.
Mandai Park Development is the development arm of Mandai Park Holdings (MPH), which is wholly-owned by Temasek Holdings. MPH also oversees the business of Wildlife Reserves Singapore, the operator of the Jurong Bird Park, Night Safari, River Safari and Singapore Zoo.
Under the rejuvenation project, MPH will add a new Rainforest Park, the nature-themed indoor attraction, the eco-resort and a relocated Bird Park.
The eco-resort, featuring accommodation types ranging from family rooms in low-rise structures to elevated treehouses, will be operated by mainboard-listed hospitality group Banyan Tree Holdings.
Shares of Lum Chang Holdings closed flat at 31.5 Singapore cents on Thursday.
https://www.businesstimes.com.sg/companies-markets/lum-chang-to-build-resort-indoor-attraction-for-mandai-project
Property
Lum Chang divests London office property for $98.7 mil
Stanislaus Jude Chan 11/03/2020, 12:05pm
SINGAPORE (Mar 11): Construction and property development group Lum Chang Holdings announced Wednesday it has divested 100% of its interests in a trust holding an office building at 130 Wood Street in London, UK, for a net cash consideration of £ 54.8 million ($98.7 million).
The purchasers are two special purpose vehicles wholly-owned by UK Property Investment (UKPI), a joint venture company that is 70% owned by Lum Chang.
Raymond Lum and David Lum &ndash Lum Chang&rsquo s directors and controlling shareholders who together control 41% of the group via direct and indirect interests &ndash also collectively hold 30% indirect interests in UKPI through Lum Chang Investments and Bevrian, respectively.
The group says the consideration was arrived at following arm&rsquo s length negotiations on a willing-buyer-willing-seller basis, based on the adjusted unaudited net asset value of the trust as at March 10.
It also takes into account the agreed value of the property at £ 55.2 million.
Part of the consideration will go towards the repayment of an existing Sterling denominated loan amounting to £ 29.9 million, which was secured against the property.
The consideration is subject to post-completion review and adjustments, which is expected to conclude in 2Q2020.
Lum Chang says the transaction allows the company to realise the value of the asset and to unlock capital for reinvestment.
The company expects to recognise an estimated post-tax net gain of £ 0.5 million from the divestment, after taking into account the transaction costs.
As at noon on Wednesday, shares in Lum Chang are trading 2.9% lower, or down 1 cent, at 34 cents.
https://www.theedgesingapore.com/capital/property/sph-spend-189-mil-asset-enhancement-initiative-uk-student-accommodation-portfolio
https://www.theedgesingapore.com/capital/property/sph-spend-189-mil-asset-enhancement-initiative-uk-student-accommodation-portfolio
Most construction counter has fly..except this one...
Dividend :SGD 0.012
Exdate :2017-11-07
Dividend :SGD 0.012
Exdate :2017-11-07
Heading up
Like I said, maybe the Lums wanna lum everything.
ohm136 ( Date: 24-Jun-2015 11:42) Posted:
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It broke 40 cts level which has not been able to for a long time ! Bearish or bullish ?
LUM CHANG see can break 40cent today not..
I doubt Fragrance more moving toward delisting as Mr Koh have hold > 85% of Fragrance shares after much buying shares from market and SGX rule when reach 90% need to delist.
Qanghoo ( Date: 22-Jun-2015 21:18) Posted:
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Yep, spun off long long ago. I also got bonus in specie for holding LC shares. That also means the Lums held a big stake. Not too long ago, they made what turned out to be a derisory offer to take LCD Global private, but did not succeed obviously. So, they finally sold out.
desmondquek ( Date: 22-Jun-2015 20:41) Posted:
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LCD global was spinned off from LUM CHANG......takeover of LUM CHANG(50-50chance)....
Qanghoo ( Date: 22-Jun-2015 20:30) Posted:
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Cld it be they are taking it private? After seeling their stake in LCD Global, they probably got a lot of loose change. N they don' t want to lose this one too!
desmondquek ( Date: 22-Jun-2015 20:11) Posted:
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too cheap ...so they wanna faster buy
ohm136 ( Date: 22-Jun-2015 11:19) Posted:
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LCH Dir bought its shares in the open market. Why ?
it is true that it can go higher...but take abit effort!!....haha
BREAKOUT leh/.???
forget abt lum chang...they are there for themselves only nvr ever for shareholders....put your money elsewhere
check their history ...they don' t lie
Qanghoo ( Date: 22-Jun-2015 08:43) Posted:
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Nothing to be excited abt. So many shares trading way, way < NTA/NAV. PE < 3. Even then px still face downward pressure.
ohm136 ( Date: 22-Jun-2015 01:50) Posted:
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LCH 9 mths' (31/3/15) EPS =5.13 cts (fully diluted). C & CE = $122.288 million (about 32 cts ps out of NAV ps of 53.65 cts). FY is in June. Last (19/6/15) traded at 39 cts ps.
Appreciate views on this stock.
The graph i got from Market watch shows that Lum Chang closed at 39 c in June 2014, but yours is below 35c!
Quite perplex!
guoyanyunyan ( Date: 07-Jan-2014 10:32) Posted:
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Lum Chang to dispose of interest in Old Court House Propco for £ 19.9m
10 Feb8:47 AM
MAINBOARD-LISTED construction company Lum Chang on Tuesday said that its wholly owned subsidiary Lum Chang UK Properties had on Monday disposed of its 12.45 million shares - representing 100 per cent of the total share capital - in Old Court House Propco (OCHP) for £ 19.9 million (S$41 million).
OCHP is a special-purpose company which owns the freehold interest in a mixed-use property located at 42-60 Kensington High Street, London W8 4PD.
Based on the adjusted net asset value (NAV) of OCHP of S$28.0 million as at Monday, the gain after deducting related selling expenses is about S$11.4 million, according to the company.
This transaction marks an opportunity for Lum Chang to realise its investment in OCHP, the company added. Proceeds will be used to fund future investments of the company and its subsidiaries.