Lian Beng

(01-09-2015, 06:27 PM)Tiggerbee Wrote: Construction and property sector stocks are cyclical. You don't invest in it when the positives have already been priced in. Any bumper dividend announcements are just opportunities for the BBs to exit.

But Lian Beng has quite a few development almost fully sold including industrial project where the full revenue and profit will only be recoginised upon TOP. They have quite a few going to TOP in 2016-2018. The chunk of profit will come in for the next 2 years... NTA now is 91 cents, price is only 52 cents. After 2 years when all the profits for the development projects comes in upon TOP, NTA will shoot pass $1.20 with NTA of around 80 cents in CASH (roughly).

I understand the worries for those companies whose development projects especially residential projects are nearing the tailend and most of the profits are already recognised due to progressive recognition of profits. But Lian Beng still have some meat ...

(01-09-2015, 08:49 PM)Sincerity Wrote:

(01-09-2015, 06:27 PM)Tiggerbee Wrote: Construction and property sector stocks are cyclical. You don't invest in it when the positives have already been priced in. Any bumper dividend announcements are just opportunities for the BBs to exit.

But Lian Beng has quite a few development almost fully sold including industrial project where the full revenue and profit will only be recoginised upon TOP. They have quite a few going to TOP in 2016-2018. The chunk of profit will come in for the next 2 years... NTA now is 91 cents, price is only 52 cents. After 2 years when all the profits for the development projects comes in upon TOP, NTA will shoot pass $1.20 with NTA of around 80 cents in CASH (roughly).

I understand the worries for those companies whose development projects especially residential projects are nearing the tailend and most of the profits are already recognised due to progressive recognition of profits. But Lian Beng still have some meat ...

You're assuming that most of the profits will be distributed to shareholders. Look at the dividend paying track record of the company and their corporate governance record before you put in your faith in the company. You don't asses present and future value of the company based on NTA alone.

If value investing is as simple as buying a company below NTA, investing will be so much simpler.

(01-09-2015, 09:44 PM)Tiggerbee Wrote:

(01-09-2015, 08:49 PM)Sincerity Wrote:

(01-09-2015, 06:27 PM)Tiggerbee Wrote: Construction and property sector stocks are cyclical. You don't invest in it when the positives have already been priced in. Any bumper dividend announcements are just opportunities for the BBs to exit.

But Lian Beng has quite a few development almost fully sold including industrial project where the full revenue and profit will only be recoginised upon TOP. They have quite a few going to TOP in 2016-2018. The chunk of profit will come in for the next 2 years... NTA now is 91 cents, price is only 52 cents. After 2 years when all the profits for the development projects comes in upon TOP, NTA will shoot pass $1.20 with NTA of around 80 cents in CASH (roughly).

I understand the worries for those companies whose development projects especially residential projects are nearing the tailend and most of the profits are already recognised due to progressive recognition of profits. But Lian Beng still have some meat ...

You're assuming that most of the profits will be distributed to shareholders. Look at the dividend paying track record of the company and their corporate governance record before you put in your faith in the company. You don't asses present and future value of the company based on NTA alone.

If value investing is as simple as buying a company below NTA, investing will be so much simpler.

You're assuming the most the profits will not be distributed to shareholders. Are you an insider who knows the Ongs will not be paying the dividends? Their dividends paid is increasing every year , this year they declared 3 cents. So if I assume every company wun be distributing their profit to shareholders, then I dun have to invest in shares already. If value investing is as complicated as u mentioned, then i think better dun invest in shares already.

[Image: 2rn9enb.jpg]

UOB Kayhian recommends Lian Beng, but is for long term

[Image: ay3xux.jpg]
On the 3rd Friday of March, June, September and December is what we called triple witching day where fund managers "massage" the share price of their portfolio for their quarterly presentation to their stakeholders. The details i not very sure.
On the 3rd friday of this June ie: 19th June, some counters were pushed up while some pushed down. Lian Beng was pushed up at 5.03pm, U can refer to the chart above.
So I suspect Lian Beng is held by fund manager. This 18th September is the triple witching day. Perhaps the fund manager would repeat the trick again and push the price to 57-58 cents region.
I remember Wee Hur, Courts was pushed down on the 19th June. I forgot which counters were pushed up, maybe u can ask Bro Edwin, he also saw the triple witching happened on 19th June
Cheers.. Please note that the fund manager may not repeat the same trick again, but Lian Beng is quite a safe bet and just keep for mid-long term. BUT if triple witching day Lian Beng chiong, maybe can take profit. Why not?

Lian Beng 1Q/16 EPS already 6+ cents, more than 1Q/15 of 2+ cents. I expect results to be annouced this week and together with the huge profit, they are going to declare special dividends.

Plus more of their properties development are almost fully sold and are going to rake in huge cash pile, especially end of this year, I expect their Mandai Foodlink to TOP which will generate one-time HUGE profit due to industrial building recognising full profit at TOP.

Vested at 49.5 cents...

After results release, they can proceed with share buyback as there is a blackout period before annoucement where they cannot perform sharebuyback

(13-01-2016, 04:58 PM)Sincerity Wrote: Lian Beng 1Q/16 EPS already 6+ cents, more than 1Q/15 of 2+ cents. I expect results to be annouced this week and together with the huge profit, they are going to declare special dividends.

Plus more of their properties development are almost fully sold and are going to rake in huge cash pile, especially end of this year, I expect their Mandai Foodlink to TOP which will generate one-time HUGE profit due to industrial building recognising full profit at TOP.

Vested at 49.5 cents...

After results release, they can proceed with share buyback as there is a blackout period before annoucement where they cannot perform sharebuyback

There is existing thread for Lian Beng, thus I merged the post into the old thread.

Please do a search before creating new thread for company. Thank you

Regards
Moderator

(13-01-2016, 04:58 PM)Sincerity Wrote: Lian Beng 1Q/16 EPS already 6+ cents, more than 1Q/15 of 2+ cents. I expect results to be annouced this week and together with the huge profit, they are going to declare special dividends.

Plus more of their properties development are almost fully sold and are going to rake in huge cash pile, especially end of this year, I expect their Mandai Foodlink to TOP which will generate one-time HUGE profit due to industrial building recognising full profit at TOP.

Vested at 49.5 cents...

After results release, they can proceed with share buyback as there is a blackout period before annoucement where they cannot perform sharebuyback

http://infopub.sgx.com/FileOpen/Results....eID=385679

Result is out, unfortunately the management is not as generous as expected. 1ct 

Sorry, jumping in a bit late on this.

Normally Lian Beng used to give dividend only in October.

LIAN BENG GROUP LTD DIVIDEND 30 Sep 2014 02 Oct 2014 16 Oct 2014 SGD 0.0125 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 30 Sep 2014 02 Oct 2014 16 Oct 2014 SGD 0.01 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 01 Oct 2013 03 Oct 2013 16 Oct 2013 SGD 0.0025 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 01 Oct 2013 03 Oct 2013 16 Oct 2013 SGD 0.01 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 03 Oct 2012 05 Oct 2012 19 Oct 2012 SGD 0.01 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 03 Oct 2012 05 Oct 2012 19 Oct 2012 SGD 0.01 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 04 Oct 2011 06 Oct 2011 19 Oct 2011 SGD 0.01 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 04 Oct 2011 06 Oct 2011 19 Oct 2011 SGD 0.006 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 01 Oct 2010 05 Oct 2010 15 Oct 2010 SGD 0.004 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 01 Oct 2010 05 Oct 2010 15 Oct 2010 SGD 0.004 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 02 Oct 2009 06 Oct 2009 16 Oct 2009 SGD 0.004 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 02 Oct 2009 06 Oct 2009 16 Oct 2009 SGD 0.002 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 02 Oct 2008 06 Oct 2008 16 Oct 2008 SGD 0.00472 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 25 Sep 2007 27 Sep 2007 10 Oct 2007 SGD 0.0005 NET OF TAX
LIAN BENG GROUP LTD DIVIDEND 25 Sep 2007 27 Sep 2007 10 Oct 2007 SGD 0.0017 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 29 Sep 2006 03 Oct 2006 12 Oct 2006 SGD 0.0022 NET OF TAX

This is all the way from 2006 till 2014.

Only in 2015 did they start giving a dividend in Feb as well as Oct.

LIAN BENG GROUP LTD DIVIDEND 19 Jan 2016 21 Jan 2016 03 Feb 2016 SGD 0.01 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 06 Oct 2015 08 Oct 2015 16 Oct 2015 SGD 0.01 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 06 Oct 2015 08 Oct 2015 16 Oct 2015 SGD 0.01 ONE-TIER TAX
LIAN BENG GROUP LTD DIVIDEND 21 Jan 2015 23 Jan 2015 09 Feb 2015 SGD 0.01 ONE-TIER TAX

Going by this trend, assuming they give out like 2015 in 2016, an additional two cents, it translates into annual yield of 6.9% at today's price of 43.5 cents.

To be fair, they may not give 2 cents and give 1 cent. That makes the yield around 4.6%.

By and large, as long as they give between 2-3 cents, assuming one buys around 43-50 cents, it seems an okay return.

I'm even later than Shriva but I can't help but comment that Triple Witching is when index futures and index options and stock options expire. It's is 3rd friday because that is the US expiry cycle. In Singapore SimSci expires 2nd last working day.

And Lian Beng is not even in the index I think.

(05-09-2015, 12:10 AM)Sincerity Wrote: [Image: ay3xux.jpg]
On the 3rd Friday of March, June, September and December is what we called triple witching day where fund managers "massage" the share price of their portfolio for their quarterly presentation to their stakeholders. The details i not very sure.
On the 3rd friday of this June ie: 19th June, some counters were pushed up while some pushed down. Lian Beng was pushed up at 5.03pm, U can refer to the chart above.
So I suspect Lian Beng is held by fund manager. This 18th September is the triple witching day. Perhaps the fund manager would repeat the trick again and push the price to 57-58 cents region.
I remember Wee Hur, Courts was pushed down on the 19th June. I forgot which counters were pushed up, maybe u can ask Bro Edwin, he also saw the triple witching happened on 19th June
Cheers.. Please note that the fund manager may not repeat the same trick again, but Lian Beng is quite a safe bet and just keep for mid-long term. BUT if triple witching day Lian Beng chiong, maybe can take profit. Why not?