Mainboard-listed construction firm Lian Beng Group said Wednesday its full year net earnings rose 43 per cent from a year earlier to S$17 million. This was on the back of a 58 per cent jump in revenue to S$308.4 million for the financial year ended May. Lian Beng said its business activity level remained high despite generally softer market conditions. The company secured five construction projects...
Construction
Homegrown building construction group Lian Beng has posted a 43.3% gain in net profit to $17.2 million for the financial year ended May 31 (FY09), compared to $12 million in FY08. The record profit was achieved on the back of a 58.3% jump in revenue to $308.4 million, from $194.8 million in FY08. Lian Beng says its construction division remained its key growth driver, contributing the bulk of total...
The opening of Singapore's first casino has been put back several months due to shortages of labour and materials, the chairman of developer Las Vegas Sands said Wednesday. Sheldon Adelson said Marina Bay Sands will open early next year for its initial phase, after being originally slotted to welcome its first visitors by the end of this year. "The opening date we seriously anticipate will be in January...
The Land Transport Authority (LTA) has awarded another contract worth S$378 million for Downtown Line 2 (DTL2). The contract for civil works went to local firm, Sembawang Engineers and Constructors. The firm will design and build stations and tunnels at Botanic Gardens and Stevens. Construction of the stations is scheduled to start in the third quarter of 2009 and targeted to complete by 2015. DTL2 is...
Mainboard-listed Yongnam Holdings has secured two new contracts worth a total of S$40.7 million for the Marina Bay Sands Integrated Resort and the Marina Coastal Expressway. In the Marina Bay Sands contract, the engineering firm will construct a segment of the integrated resort's Lion Garden Bridge and a cooling tower structure. The second contract will involve the installation and eventual extraction of...
Mainboard-listed OKP Holdings has signed a S$3.4 million contract with Singapore's Urban Redevelopment Authority (URA) for environmental improvement works. The infrastructure and civil engineering firm says the first stage of works will begin on May 22 at Siglap Village and is expected to be completed in January next year. The second stage, covering works at Upper Serangoon Road and along the canal at...
United Engineers reported a 593 per cent improvement in net profit surge to S$8.5 million in the first quarter of this year. Revenue for the company also grew 11 per cent to S$148.9 million. The company said this is mainly due to progressive recognition of revenue from the sales of its residential projects, The Rochester in one-north and Park Central @ AMK in Ang Mo Kio. United Engineers said it has an...
Construction firm Lum Chang has posted a third-quarter net profit of S$3.7 million, an increase of two per cent on-year. In the same period, its revenue grew by three per cent to S$51.6 million. The firm said this was due to revenue recognition from four construction projects, which amounted to S$42.3 million. The group's net profit for the first nine months dropped by 23 per cent to S$4.7...
Construction for Singapore's most expensive highway, the Marina Coastal Expressway (MCE), has begun. Costing more than $4 billion, it is much higher than the initial estimation of $2.5 billion due to the difficult soil conditions. When completed, the 5-kilometre road will serve as a high speed link to the new Downtown area in Marina Bay. It will also link up to the Kallang-Paya Lebar Expressway, East...
Mainboard-listed construction firm Lian Beng has posted a net profit of S$11.4 million for the nine months to February, a 31 per cent rise on-year. Revenue for the period increased by 55 per cent to S$230 million, driven by a rise in construction activity. The firm currently has an order book of S$586 million. But in view of uncertainties in the economic climate, Lian Beng says the next 12 months are...