Stock Name: Lian Beng
Company Name: LIAN BENG GROUP LTD
DMG & Partners Securities in a Jan 11 research report says: "Lian Beng Group's (LBG) 2QFY12 earnings were in-line with our estimates, coming in at $11 million, easing 5.2% y-o-y on the back of lower construction work recognised.
"LBG is set to ride on Singapore's current building boom and its ventures in private residential and industrial developments will help boost its bottom line. LBG's net cash per share of 15.6 cents (1QFY12: 14.2 cents) would be invested into its property business.
"On the back of strong order books of $772 million (1QFY12: $761 million), we estimate LBG's FY2012 earnings to come in at $53.5 million, which suggests a prospective P/E of 3.5x (peers at 6.3x blended FY11 and FY12 P/E). Target price of 71 cents, based on a target P/E of 7x FY12 earnings. MAINTAIN BUY."
Company Name: LIAN BENG GROUP LTD
| Research House: DMG | Price Call: BUY | Target Price: 0.71 |
DMG & Partners Securities in a Jan 11 research report says: "Lian Beng Group's (LBG) 2QFY12 earnings were in-line with our estimates, coming in at $11 million, easing 5.2% y-o-y on the back of lower construction work recognised.
"LBG is set to ride on Singapore's current building boom and its ventures in private residential and industrial developments will help boost its bottom line. LBG's net cash per share of 15.6 cents (1QFY12: 14.2 cents) would be invested into its property business.
"On the back of strong order books of $772 million (1QFY12: $761 million), we estimate LBG's FY2012 earnings to come in at $53.5 million, which suggests a prospective P/E of 3.5x (peers at 6.3x blended FY11 and FY12 P/E). Target price of 71 cents, based on a target P/E of 7x FY12 earnings. MAINTAIN BUY."
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