defu3.17Artist’s Impression of Defu Industrial City.Lian Beng Group (联明集团), a Singapore BCA Grade A1 construction group, has secured its largest ever construction contract at approximately S$435 million.

The Group’s wholly-owned subsidiary, Lian Beng Construction (1988) Pte Ltd, was awarded this contract by the Housing & Development Board (HDB) to build a high-rise, multi-user industrial complex at Kim Chuan Road in the Defu South area.

Stock price 

50 c

52-week range

42.1 – 52.5 c

PE (ttm)

3.79

Market cap

$249.9 m

Shares outstanding

499.7 m

Dividend yield
(ttm)

4%

Year-to-date return

7.53%

Source: Bloomberg

Construction is expected to commence in the 2Q2017 and will take about 36 months to complete.

Lian Beng will also build a 66kV electrical substation and eight 22kV electrical substations for SP PowerGrid.

The proposed industrial complex, named Defu Industrial City, is part of the HDB’s initiative to redevelop Defu Industrial Estate into “a Green and Sustainable Industrial Park of Tomorrow.”

Under the HDB’s masterplan, existing factories in Defu Industrial Estate will be progressively replaced with new and modern industrial complexes.

HDB intends to redevelop the 30-year-old industrial estate to optimise the use of land, resulting in a five-fold jump in the total amount of factory floor space of the new Defu Industrial Park.

With this contract win, Lian Beng has strengthened its order book to S$644 million as at 6 March 2017, which will provide a sustainable flow of activities through FY2020.

Mr Ong Pang Aik (王邦益), Lian Beng’s Executive Chairman, commented, “Winning our largest ever construction contract is a key milestone for Lian Beng. We will continue to leverage on our track record to secure sizeable building contracts to further strengthen our order book.”


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