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I thought LCH's FY11 (ended 30Jun11) full-year results (first released last Friday, 26Aug11) are good enough and worth highlighting.....
http://info.sgx.com/webcoranncatth.nsf/V...800375726/$file/LCHfull_yr_results.pdf?openelement
LCH's well-established Construction division continued to deliver above-average profitability at the OP level. With a large order backlog of approx. $1.0b, this division should be kept very busy - and hopefully as profitable! - in the next 3 years at least.
LCH's Property Development & Investment division has started marketing its residential property development projects in Malaysia (mainly in KL). As the development sites are large and were acquired at quite low prices some years back, profit contribution potential from this division should be quite good and sustainable in the next few years as well.
As similar to last FY10, a $0.02/share Final dividend has been declared for FY11, which gives a highly respectable yield of 7.4% based on LCH's last done share price of $0.27.
More info on LCH.....
http://www.lcbc.com.sg/
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LCH has secured another good construction contract from Ascendes/JTC as the main contractor for a new commercial building at one-north....
http://info.sgx.com/webcoranncatth.nsf/V...500354D68/$file/LCH_Biopolis.pdf?openelement
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Since 16Sep11, LCH has been aggressively buying back its own shares.....
http://info.sgx.com/webcorannc.nsf/Annou...endocument (16Sep11 - 630 lots at average $0.27856/share)
http://info.sgx.com/webcorannc.nsf/Annou...endocument (19Sep11 - 236 lots at average $0.28422/share)
http://info.sgx.com/webcorannc.nsf/Annou...endocument (21Sep11 - 486 lots at average $0.28949/share)
http://info.sgx.com/webcorannc.nsf/Annou...endocument (22Sep11 - 470 lots at average $0.29259/share)
Today (23Sep11). LCH bought back another 300 lots at average 0.29622 (out of the total 370 lots transacted between $0.285 and $0.30).....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
Todate, LCH has bought back a total of 2,122,000 shares, or approx. 0.56% of the company's 377,907,604 issued shares.
I just love LCH's aggressive approach and style in enhancing shareholders' value - i.e. the EPS, NAV and intrinsic value of the remaining shares, going forward - and bolstering the company's share price from a grossly under-priced level in a depressed market!
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A recent initiation report (dated 6Sep11) by S&P on LCH which contains a lot of useful info.....
http://research.sgx.com/reports/rpt_view.pl?id=6580
A relevant question: Why shouldn't Mr Market be prepared to price LCH - as one of the leading and well-established local construction companies with a long operating history - closer to its latest (as at 30Jun11) NAV/share of $0.4332?
I suppose that's why LCH's BOD has sanctioned the company management to undertake the current aggressive share buy-back exercise!
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26-09-2011, 06:55 PM
(This post was last modified: 26-09-2011, 06:56 PM by dydx.)
Today (26Sep11), LCH bought back another 300 lots at $0.295/share (out of a total 497 lots trasacted between $0.28 and $0.30).....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
Todate, LCH has bought back a total of 2,422,000 shares, or approx. 0.64% of the company's issued shares.
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Today (27Sep11), LCH bought back another 33 lots at an average $0.29515/share (out of a total 150 lots trasacted between $0.295 and $0.30).....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
Todate, LCH has bought back a total of 2,455,000 shares, or approx. 0.65% of the company's issued shares.
Today, LCH has also announced that the proposed $0.02/share Final dividend for FY11 (ended 30Jun11) will be paid on 24Nov11, with book closure date fixed on 9Nov11 - i.e. 'XD' date likely on 4Nov11. Based on the last done share price of $0.295, we have a derived dividend yield of approx. 6.8% - actual yield is higher than 6.8%, as the $0.02/share dividend payment is less than 2 months away.
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Today (28Sep11), LCH bought back another 50 lots at an average $0.2976/share (out of a total 279 lots trasacted between $0.29 and $0.30).....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
Todate, LCH has bought back a total of 2,505,000 shares, or approx. 0.66% of the company's issued shares.
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Today (29Sep11), LCH bought back another 200 lots at an average $0.29635/share (out of a total 405 lots trasacted between $0.29 and $0.30).....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
Todate, LCH has bought back a total of 2,705,000 shares, or approx. 0.71% of the company's issued shares.
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Today (4Oct11), LCH effected another big share buy-back of 300 lots at an average $0.28513/share (out of a total 630 lots transacted between $0.275 and $0.29).....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
This is after buying back another 100 lots on 30Sep11 at an average $0.29665/share.....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
Todate, LCH has bought back a total of 3,105,000 shares, or approx. 0.82% of the company's issued shares.
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On 5Oct11, LCH bought back another 40 lots at an average $0.2865/share....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
and today (6Oct11), LCH bought back another 150 lots at an average $0.2897/share (out of a total 336 lots transacted between $0.28 and $0.295)....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
Todate, LCH has bought back a total of 3,295,000 shares, or approx. 0.87% of the company's issued shares.
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