Tag Archives: Dragon Mansion

Lian Beng Group reports 12% drop in revenue

SINGAPORE: Singapore’s sluggish construction market has hit Lian Beng Group’s top-line growth. Its revenues fell 12 per cent to S$445 million, in its latest fiscal year ended May.

Construction makes up three quarters of Lian Beng’s revenue, and its construction order book of over S$650 million will keep the firm busy until 2015.

But Lian Beng is branching into joint ventures to develop properties, as a secondary income stream. This includes Dragon Mansion, Hougang Plaza, Hong Leong Garden Shopping Centre, Seletar Garden, King Albert Park and Midlink Plaza.

Earlier in April, it also announced that it is eyeing a proposed listing of its engineering and concrete business in Taiwan.

Ms Ong Lay Koon, executive director of Lian Beng Group Ltd, said: “For the construction industry, I think the BCA has said that the construction demand is around S$17 billion and S$21 billion for 2012 and 2013. With more GLS (Government Land Sales) land coming out for tender, we believe that there’ll be a lot of projects coming out for tender.”

Lian Beng Group’s net profit jumped 8.1 per cent to S$52 million for the full year ended May 31, 2012.

Despite falling revenues, its profits was boosted by gains on the sale of its investment property at New Industrial Road for S$7.9 million.

Its earnings per share rose to 9.83 cents from 9.10 cents. It also increased its dividend by 25 per cent to 2.0 cents per share, from 1.6 cents per share last year.

Source : CNA – 2012 Jul 28

Dragon Mansion site up for en bloc sale

Prime residential freehold property Dragon Mansion at 14, Spottiswoode Park, has been put up for collective sale by tender by its sole marketing agent Jones Lang LaSalle.

The site has a redevelopment area of 39,176 sq ft, including another plot housing a substation.

The gross plot ratio is 2.8 and the new property can be built up to 36 storeys. There is no development charge payable.

Subject to approval, an adjoining plot of state land of 1,167 sq ft costing about S$1.22 million could be added.

This will bring the total potential gross floor area to 112,959 sq ft. It can yield about 112 apartment units at 950 sq ft each, said Jones Lang LaSalle.

Dragon Mansion is within walking distance of Outram Park MRT Station and Tanjong Pagar MRT Station and a short drive away from the Central Business District and daily amenities.

The indicative price is between S$150 million and S$156 million, or from S$1,340 to S$1,392 psf per plot ratio, said Jones Lang LaSalle.

Another Dragon Mansion site, located at 18, Spottiswoode Park, was sold to Roxy-Pacific’s subsidiary Roxy Land in December 2009 for S$100.8 million.

It has since been redeveloped into the new Spottiswoode 18.
Source : Today – 31 May 2011