04 July 2013

Lian Beng Current Construction Project Value at S$1.4B (June 2013)

Lian Beng announced on June 2013 that it has clinched another project worth S$115M and added up to its order book value of S$1.4 billion. If we simply calculate the project average life span at about 3 to 4 years, the average revenue the company could achieve from construction division can be easily at around S$350 Million per year.

I understood that there are some financial problems on several contractors and Lian Beng may benefit from taking over the existing projects from those contractors. Nonetheless, I also heard from my friend that tightening labor policy imposed in Singapore is giving impacts as the wages are rising and it is getting more difficult to recruit expert workers in this industry. All I know is that contractors which had been awarded projects by HDB would benefit from more BTOs in coming years.

As Lian Beng is using the latest financial reporting standard FRS 115, so the revenue from private development projects would be in the report once the TOP is obtained. I am hoping for a better result in next financial year. Cheers.

Below is the news I captured from company website.

SINGAPORE, 24 June 2013 – Lian Beng Group (“Lian Beng” or “the Group”) (联明集团), a Singapore BCA   Grade A1 construction group,  has set its record yet again for its construction order book.  

The Group   secured two projects worth approximately S$200 million, boosting its order book to approximately S$1.4   billion.  The Group’s wholly-owned subsidiary,  Lian Beng Construction (1988) Pte Ltd, was awarded the building   contract of a condominium along Flora Drive in Pasir Ris estate worth S$115 million.  The contract involves   the building of  nine eight-storey residential blocks,  one block of clubhouse,  a  basement car park,  a   swimming pool, tennis courts and other amenities within the condominium compound.  

The contract period  will last 28 months start from July this year to October 2015.  This condominium is developed by Tripartite   Developers Pte Ltd (“Tripartite”), a joint venture of  Hong Leong Holdings Limited (“HLH”), City   Developments Limited (“CDL”) and  TID Pte Ltd  (“TID”).  The Group’s another  wholly-owned subsidiary,   Deenn Engineering Pte Ltd, has secured recently a contract worth approximately S$85-million on 17 June   2013 for a project in Singapore.


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