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Hock Lian Seng TP 50-60cts?
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investment
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23-Mar-2010 20:27
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Hock Lian clinches S$7.7 mln HDB project
By ANGELA TAN
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pumper
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03-Mar-2010 22:39
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Hock Lian Seng analysts' meeting yesterday - new information snippets
Wednesday, 3 March, 2010 7:3 AM Posted by Kevin Scully I attended the Hock Lian Seng 2009 results briefing session for analysts last evening. There were some new information which I felt are worth sharing with investors: a) they are not going to be significantly impacted by the increase in foreign worker levy because their wage costs are less than 10% of total costs. They have about 400 staff only. The main reason for this is that they use sub-contractors for a lot of their work - they are mainly project managers and its the sub-contractors who may be impacted. b) there is a large project about S$200mn which they have tendered for - with the results of the tender due out later this month. c) there are more projects due on the second half of 2010 comprising the Sentosa tunnel (total contract value -S$150mn) and also about 16 to 18 tenders of S$200mn each for Stage 3 of the downtown line. As stated in my earlier reviews - they usually manage to secure about 5% of these contracts and in some years 10% - the successful award will be positive price catalyst for the stock. d) of their existing projects they will be recognising the tail end of Marina Bay, 25-30% of Marina Coastal Expressway and 15-20% of the Jalan Gali Batu depot project in 2010. e) the group also has investments in listed equites of about S$8.27mn which they purchased in early 2009 - they now have a capital gain on these investments of S$4.24mn. f) the group's large cash position of S$143.5mn is inflated from a sharp rise in "Progress billings in excess of work in progress". This figure was S$61mn in 2009 compared to S$16mn in 2008. The company ascribes this to slow payment to suppliers/contractors. Adjusting for this say by about S$45mn and also the prepayments - would give a net cash figure of about S$90mn - still a decent amount and about S$0.18 per share. g) on the current dividend payout ratio - the Chairman did allude that this might rise in the future if there is surplus cash to their needs. Overall, I didnt find anything negative that would cause me to change my recommendation and its inclusion in my Stock Picks - there is also no change in my own price target. Watch out for our analyst report on the company as well. |
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knightrider
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01-Mar-2010 11:13
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Yup, this is a good horse ! | |||||||||||||||
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pumper
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27-Feb-2010 16:46
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Hock Lian Seng - another share in my stock pick list delivers a good set of 2009 results
Friday, 26 February, 2010 1:17 AM Posted by Kevin Scully Hock Lian Seng, one of the 2010 new editions to My portfolio has delivered a good set of 2009 results. Key numbers in the results are: a) Turnover rose 15.6% to S$224.8mn b) net profit rose 36.9% to S$21.3mn with EPS of 4.2 cents and PER of 6.9 at S$0.29 c) company proposing a final dividend of 1.5 cents giving a dividend yield of 5.2% d) Group has gross cash of S$143.7mn or about S$0.28 per share. e) Order book of S$574mn The strong outlook for construction in Singapore will see contruction demand between S$21 to S$27bn. About two thirds of this will be public sector /Government projects which is where Hock Lian Seng is positioned. I expect Hock Lian Seng to be able to secure about 5% of annual MRT projects which are about S$5bn. This should enable it to deliver annual revenue in excess of S$250mn per annum. Still very cheap/attractive and remains on my Stock Pick list....with no change in my target price (check Stock Pick section).. |
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starlene
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23-Feb-2010 23:55
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HLS has cash on land about $145mil.
Newly Listed posted record profits...
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pumper
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04-Feb-2010 20:30
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This is another hidden gem, looking at their contract orders up to 2015 worth nearly $100m. Can keep this one for long term! 
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alvios
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26-Jan-2010 17:28
Yells: "Have A Nice Day !" |
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i support ah hock , ah lian, ah seng. hahaha... bought in some today. looking good even market tua lao sai... Ah hock (brain), Ah lian (girl power) night c, Ah seng (black power) if the white side cannot settle, he will come in hehe... A company needs these 3 ppl to go the extra mile... ... |
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knightrider
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26-Jan-2010 10:49
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This is a good joke, it bright up my day in this so cloudy stock market ! Thks. LOL. | |||||||||||||||
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niuyear
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26-Jan-2010 10:22
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Come sharejunctions and we will learn some companies we probably not familiar with......this cmpany got , Ah hock ah lian and ah seng.....hahaha! | |||||||||||||||
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knightrider
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26-Jan-2010 10:16
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Take a look on 20 Jan 2010! 1. Holdings of Director , including direct and deemed interest : Direct Deemed No. of shares held before the change 525000 0 As a percentage of issued share capital 0.10 From 0% to 0.02%, 90000 purchased Deemed interest ! Footnotes Deemed interest held by spouse. THE INITIAL PUBLIC OFFERING OF THE COMPANY'S SHARES WAS SPONSORED BY UNITED OVERSEAS BANK LIMITED. |
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pumper
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20-Jan-2010 11:22
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HLS is giving 1 cent per share dividend according to source! Not bad for a company who just listed in Dec 09. Enough for me to buy abalone for CNY! | |||||||||||||||
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Bon3260
Supreme |
15-Jan-2010 20:26
Yells: "Ooo Ooo Aaa Aaa!" |
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HOCK LIAN SENG HOLDINGS LIMITED (Company Registration No.: 200908903E) LETTER OF AWARD FOR CONTRACT FOR PROPOSED WORKERS’ DORMITORY The Board of Directors of Hock Lian Seng Holdings Limited (the “Company”) is pleased to announce that its wholly owned subsidiary, Hock Lian Seng Infrastructure Pte. Ltd. has accepted the letter of award for the building and operation of the workers’ dormitory from SCAL Resources Pte Ltd. The workers’ dormitory will be located at New Industrial Road and Hougang Avenue 3. The work for building theworkers’ dormitory is scheduled to commence in January 2010 and, subject to the renewal of the tenancy, the term for operation of the workers’ dormitory will expire in December 2015. The Group is expected to invest approximately $6 million, to be funded from internal resources, for the building and construction of the workers’ dormitory. The building and construction of the workers’ dormitory is not expected to have a material financial impact on the Group’s results for the current financial year ending 31 December 2010. None of the directors or controlling shareholders has any interest, direct or indirect, in the building and construction of the workers’ dormitory other than through their respective shareholdings in the Company. By Order of the Board Seah Hai Yang Company Secretary 15 January 2010 | |||||||||||||||
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pumper
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15-Jan-2010 09:49
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Waiting for it to burst through resistance level at $0.34..........c'om!! | |||||||||||||||
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pumper
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14-Jan-2010 19:18
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HLS opened at $0.28, now ard $0.33...up by $0.05...which is not alot in my opinion. I think tis is a sleeper..estimated TP ard $0.50-$0.60 Its the only local firm to be awarded the MCE project
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out-of-the-box
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14-Jan-2010 17:28
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already up so much from Dec... so what you think the TP?? | |||||||||||||||
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pumper
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14-Jan-2010 17:20
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Govt projects to prop up industry by Tan Hui Leng 05:55 AM Jan 14, 2010SINGAPORE - Fortunes in Singapore's construction sector looks set to grow this year as construction demand is expected to hit between $21 billion and $27 billion this year. According to estimates by the Building and Construction Authority (BCA), the bulk of this year's demand - worth some $14 billion to $17.9 billion - will come from the public sector. Government projects are expected to contribute 65 per cent of construction demand this year. This will be fuelled largely by higher growth in most categories of building construction demand, as well as strong civil engineering projects led by the Land Transport Authority's MRT projects for Stage 3 of the Downtown Line and major road projects. Other upcoming projects in the pipeline include the LNG (liquefied natural gas) Terminal, Fusionopolis 2A, industrial facilities at Seletar Aerospace Park, campus expansion of Institutes of Higher Learning and new healthcare facilities. Senior Minister of State for National Development Grace Fu said that the Government will continue to invest in infrastructure works this year. "The industry can look forward to more tendering opportunities in building projects," she said at the BCA-Redas Construction and Property Prospects 2010 Seminar yesterday. "This will include the construction of new HDB flats to meet the ongoing demand for public housing, the upgrading and development of new educational and healthcare facilities, and major industrial projects." Meanwhile, private sector construction demand is expected to clock between $7 billion and $9.1 billion. The average annual construction demand for 2011 and 2012 is projected to be between $18 billion and $25 billion. In these years, the public sector construction demand is likely to reach between $10 billion and $14 billion a year, with 45 per cent of it coming from building projects, and the remainder driven by civil engineering projects. Last year, the total construction output is estimated to have reached a record high of about $30 billion, supported by the exceptionally high level of construction demand in 2008. Going forward, the level of on-site construction activity or output is anticipated to gradually reduce to between $27 billion and $29 billion this year. In 2011-12, it is expected to moderate further with the private sector expected to bear more weight as government stimulus will likely slow down. Despite the overall positive prognosis, analysts say as demand rises, there will be other risks. "Basically, both the private sector and to some extent, the stimulus effects will still be adding on to the demand picture," said CIMB-GK Research's regional economist Song Seng Wun. "One of the bigger risks other than material costs would be labour costs for the coming couple of years if we see growth strengthen globally." | |||||||||||||||
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pumper
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14-Jan-2010 17:09
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In my opinion...HLS is another hidden gem... |
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starlene
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10-Jan-2010 22:24
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Hock Lian Seng(HLS) made its ipo trading debut on 21Dec 2009 and HLS was founded since 1969.The ipo was to raise fund to buy heavy equipment and machinerynfor bigger projects. HLS won a number of major contracts -construction of Krangi Expressway and Jurong River Bridge.It specialises in construction of waste & sewage facilities as well as port related works.In 1995 HLS was awarded $93.7mil biggest and largest port facility construction to build support structures for cranes at Pasir Panjang terminal. On hand HLS has 3 major projects worth $200mil each awarded by LTA.It is also involved in construction of Marina Bay MRT,Marina Coast Expressway.Besides it has extensive projects/experiences building MTR in Taiwan and expressways in Shanghai,PRC. Definitely worth a buy,its nearest competitor is Lum Chang,but latter not a pure civil engineering play as Lum Chang is in property development. |
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starlene
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09-Jan-2010 23:16
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Last week EDGE mag...Hock Lian Seng has $106.8mil cash and deposits with no debts at all--an established civil engineering co since 1969 
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starlene
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05-Jan-2010 23:23
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> upside expected with closed at 33.5cts today....higher vol at higher price...the ballot ratio not easy to get...suspect institutions are collecting base on last few days top vol and the retail must have sold out liao-only the serious investors are keen..another PEC | |||||||||||||||
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