Tag Archives: Lian Beng

Lian Beng wins $112.7m contract

Posted on 28 Oct 2009 | Comments Off on Lian Beng wins $112.7m contract

LIAN Beng Group has bagged a $112.7 million contract to build The Gale, a freehold condominium in Flora Road.

The design-and-build contract was awarded by Tripartite Developers – part of the Hong Leong Group – and comprises 329 apartment units in nine eight-storey blocks, a basement carpark, a club house, swimming pool and other communal facilities.

Work is expected to start next month and to be completed by November 2012.

The Gale’s design has received the Green Mark Gold Award from the Building and Construction Authority.

‘Securing the contract for The Gale is a timely development for Lian Beng,’ the company said in a filing to the Singapore Exchange.

‘The group recently completed the construction of Ferraria Park, which is on an adjoining plot, thus minimising the resources required for the initial set-up at the new work site.’

The Gale contract comes two months after the company was awarded the job of building Waterfront Key, a 437-unit joint venture development by Frasers Centrepoint and Far East Organization, and will boost Lian Beng’s order book to about $658 million. Continue reading →

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Lian Beng posts 168% surge in profit after tax to $5.4m for Q1

Posted on 15 Oct 2009 | Comments Off on Lian Beng posts 168% surge in profit after tax to $5.4m for Q1

Building construction group Lian Beng has reported a 168% surge in profit after tax to $5.4 million for the first quarter of its 2010 financial year, compared to $2 million a year ago. This was achieved on the back of a 128.6% rise in revenue to $85.1 million.

Lian Beng says the growth in revenue was driven by revenue recognition from the completion of projects like Ferraria Park, Sixth Avenue Condominium and Northwoods, as well as progress payments from existing projects such as the construction of Amber Residences, camp facilities at Kranji, Kovan Residences and Bellerive Condominium. Along with this, the group also saw higher revenue contribution from Ola Residences, a wholly-owned property development project. This, coupled with measures to improve operational productivity, helped to lift the Group’s bottom line accordingly.

With signs of improvement in the global economic situation, Lian Beng says the local private residential property market has also enjoyed a healthy and sustained level of interest. This momentum is expected to continue following the successful launch of various private property developments, and the rollout of government infrastructure projects.

During the quarter, the group clinched a contract worth $101 million for the construction of Waterfront Key, a private residential development in Bedok. This has helped to boost its order book to $545 million, which should ensure a steady flow of construction activity for the next three years, it adds.

The group expects to be participating in more tender activities for private and public projects over the rest of the financial year.

Source : The Edge – 15 Oct 2009

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