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Lian Beng Wins S$49-million Defence Contract

Lian Beng Group Limited announced Monday that its wholly-owned subsidiary, Lian Beng Construction (1988) Pte Ltd, has secured a construction contract worth approximately S$49.0 million from the Ministry of Defence.

The contract will run for a period of 21 months.

Lian Beng said the new deal will have a positive financial impact on the net tangible assets per share and earnings per share of the group for the current financial year ending 31 May 2012.

Lian Beng Group Limited closed Monday at S$0.380.


OKP Clinches S$75.3-million Contract from LTA

Infrastructure and civil engineering group OKP Holdings Limited announced Monday that it has secured a S$75.3-million contract from the Land Transportation Authority.

The contract, to be executed by OKP’s wholly-owned subsidiary Or Kiw Peow Contractors Pte Ltd, is for the expansion of the Central Expressway, Tampines Expressway and Seletar Expressway Interchange.

Work is scheduled to start in March 2012 and targeted to be completed by 2015.

The group said that as part of this project, four new vehicular flyovers will be constructed. In addition, five new road connections will also be created to improve the connectivity between the expressways.

With this latest win, the group’s orderbook stands at approximately S$323.9 million, with some projects to be completed in 2015.

OKP Holdings Limited closed Monday at S$0.620.


Swiber’s 2011 Bottomline Down 14 Per cent despite Record Turnover

Swiber Holdings Limited announced Monday that its net profit for the year ending 31 December 2011 fell 14 per cent year-on-year to US$32.07 million (S$40.25 million) from US$37.27 million despite the 40.5-per cent jump in turnover to US$654.49 million last year.

The higher revenue was offset by higher administrative expenses in line with business expansion, a decrease in gain on asset disposal, higher finance cost, as well as a lower share of profit from associates and joint ventures.

Swiber Holdings Limited closed Monday at S$0.690.


Nam Cheong Posts 20-per cent Fall in 2011 Net Profit

Nam Cheong Limited posted Monday a 20-per cent year-on-year decrease in net profit for the year ending 31 December 2011 to RMB93.19 million (S$18.5 million), in tandem with the 20-per cent fall in turnover to RMB606.24 million from a year ago.

The decrease in revenue was mainly due to lower shipbuilding segment revenue recognised over the year as a result of the spill-over effect of the economic downturn in 2008/2009, where fewer orders of new vessels were received for delivery in 2010/2011.

The group has recommended a dividend of S$0.002 per share.

Nam Cheong Limited closed Monday at S$0.177.


First Resources’ 4Q2011 Bottomline Up 10.4 Per cent

Palm oil group First Resources Limited reported Monday a 10.4-per cent jump in net profit for the fourth quarter ending 31 December 2011 to US$77.8 million (S$97.6 million) from a year ago, driven by higher palm oil prices and sales volumes.

Sales grew 34.5 per cent to US$158.2 million.

For the full year 2011, net profit increased 37.3 per cent to US$196.4 million on a 49.9-per cent rise in sales to US$494.6 million.

Adjusting for the net gains arising from changes in fair value of the group’s biological assets, underlying net profit rose 54.6 per cent to US$168.4 million.

The group has proposed a final dividend of S$0.025 per share, taking the total 2011 dividend to S$0.035 per share.

First Resources Limited closed Monday at S$1.845.


Hup Soon Turns Red in 4Q2011

Hup Soon Global Corporation Limited reported Monday a net loss of US$2.27 million (S$2.85 million) for the fourth quarter ending 31 December 2011, mainly due to the floods in Thailand.

Excluding exceptional items that amounted to US$1.5 million, the net loss attributed to owners of Hup Soon would have been US$0.8 million in the reporting quarter. A year ago, it reported a profit of US$1.27 million.

Turnover inched up 5 per cent to US$47.9 million from the previous year. Gross profit margin, however, decreased to 18.6 per cent from 25.5 per cent a year ago as the battery manufacturing business was affected by the volatility of lead and raw materials prices and its agriculture tractors business was clearing inventories.

For the full year 2011, net earnings fell to US$1.4 million from US$7.96 million in 2010. Revenue for the year increased 15.3 per cent to US$218.27 million from a year ago.

The group noted that despite the impact on its operations caused by the floods in Thailand in 4Q2011, all businesses in the group registered an improvement in revenue in 2011 as compared with 2010 as a result of higher sales volume.

Hup Soon Global Corporation Limited closed Monday at S$0.110.


Sembcorp’s 2011 Net Profit Rises 2.1 Per cent

Sembcorp Industries Limited announced Monday that its net profit for the fourth quarter ending 31 December 2011 inched up 10.2 per cent to S$251.89 million from a year ago.

Revenue for the quarter jumped 8.6 per cent year-on-year to S$2.25 billion.

For the full year 2011, the group’s earnings rose 2.1 per cent year-on-year to S$809.28 million.

Turnover increased 3.2 per cent to S$9.05 billion from the previous year, backed by strong performance in its utilities and marine business.

Similar to a year ago, the group has recommended an ordinary dividend of S$0.15 per share and a bonus dividend of S$0.02 per share, payable on 15 May 2012.

Sembcorp Industries Limited closed Monday at S$5.140.


Q & M Dental’s 2011 Bottomline Up 14 Per cent

Q & M Dental Group (S) Limited reported Monday a 14-per cent growth in bottomline for the year ending 31 December 2011 to S$4.58 million, compared with S$4.03 million a year ago.

Revenue for the year increased 22 per cent year-on-year to S$47.76 million on the back of higher contributions from existing dental clinics in Singapore and maiden contributions from new dental outlets in Singapore and Malaysia.

Going forward, the group said it expects to see more patients from the recently enhanced Community Health Assist Scheme (CHAS), which allows patients to seek subsidised dental treatment at private dental clinics. Q & M has 49 dental outlets registered under CHAS.

Q & M Dental also announced that it plans to expand its presence in Malaysia’s private dental healthcare market in view of rising consumer affluence and medical tourism there. Currently, the group is in a deal to acquire an 80-per cent stake in a specialist dental practice in Kuala Lumpur.

The group added that it will also invest RMB400.0 million to establish its dental healthcare business in China.

The target is to have 50 dental clinics and 20 laboratories in China by 2015 through joint ventures and setting up its own ‘Q & M’ dental clinics in Shanghai to achieve a combined profit of RMB80.0 million, the group said.

Q & M Dental Group (S) Limited closed Monday at S$0.770.