Tuesday, January 13, 2015

Lian Beng kept at 'hold' with 65 cents fair value by OCBC

Stock Name: Lian Beng
Company Name: LIAN BENG GROUP LTD
Research House: OCBCPrice Call: HOLDTarget Price: 0.65



SINGAPORE (Jan 13): OCBC is maintaining its "Hold" call on Lian Beng with an unchanged fair value estimate of 65 cents as its divestment into hotel development looks to be paying off.

In 1HFY15 ended Nov, the construction company announced a PATMI of $35.5 million, up 105.2% y-o-y. This was due to its share of results of associates and joint ventures improving from a loss of S$9.6 million in 1HFY14 to a profit of $21.5 million in 1HFY15.

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