Post Reply
1-20 of 39
Contract awarded. Its wholly-own subsidiary, Tiong Seng Contractors Pte Ltd, has been
awarded a contract worth approximately S$192.2 million by Housing & Development
Board for the building and contingency works at Punggol West Contract 20 (total 1072
dwelling units) (the “Punggol West Project”).
" At the forefront of technology, BUY with reduced TP of
S$0.31. Completion of its prefabrication hub in 3Q11 is timely
and in line with the government’s push for increased productivity
in the construction sector. The new hub will reduce labor
requirements for pre-casting by over 50-70% and these savings
should filter into TSNG numbers in the longer term. Our BUY call
is maintained, however with a lower TP S$0.31 as we ascribe a
slightly higher discount (35% vs 30% previously) to our revised
SOTP of S$0.47 to account for an increasing competitive
environment going forward." DBS Vickers Securities
Submitted lowest bid for HDB project Building Works At Punggol West Contract 20 (Total 1072 Dwelling Units) for $192m. Tender closed on 1 Mar 11. Total 5 tenderers. Project not awarded yet.
Tiong Seng Holdings, the construction group and property developer, today reported a 48% fall in net profit attributable to equity holders of $21.4 million on the back of a 33% fall in revenue of $252.3 million for the full-year ended 31 December 2010 (FY2010).
The group’s lower revenue was mainly due to a higher proportion of projects that were completed or close to completion in Singapore such as Capella, Tribeca, Wilkie, Sky @ Eleven, Marina Bay Financial Centre Tower 3 and Sentosa Integrated Resorts, resulting in a decrease in construction contract revenue of $165.8 million. However, this was offset by the increase in work carried out for on-going projects: Raffles City Shopping Mall, Hilltops, Shelford Suites, Wharf, The Volari and Hotel at Upper Pickering Street, as well as projects in Papua New Guinea totalling some $114.2 million.
But the group says its pipeline of projects continues to be very strong, with its order book for construction and civil engineering projects based on secured contracts standing at $1 billion as at 31 December 2010. The group expects majority of these orders to be fulfilled over the next 12 to 30 months.
/theedge/
Tiong Seng Holdings Ltd announced that its wholly-owned subsidiary Robin Village Developments Pte Ltd (“Robin Village”) is building a S$26 million Prefab Hub to supply pre-cast concrete components. The Prefab Hub, to be completed in the third quarter of 2011, will feature advanced pre-casting facilities operating under mechanised factory conditions that will double its current output to more than 100,000m3 of pre-cast components annually. The use of precast concrete is a key means to raise construction productivity. Tiong Seng’s initiative of automating the precast concrete production is the first facility of its kind to receive funding under Building and Construction Authority’s (“BCA”) Construction Productivity and Capability Fund (CPCF), with a supportable funding amount of $1 million.
The reverse is also true.So do your homework. Of course there are good ones too.
Hulumas ( Date: 22-Jun-2010 21:43) Posted:
Believe it or not! You can hardly earn money without buying S chips!
AnthonyTan ( Date: 16-Apr-2010 13:07) Posted:
|
What about S-Chip shares from Tiong Kok??????
Very worry to buy S-chip shares, lol |
|
|
|
erh, how com tiong seng is under S-chip. It's singapore counter I thought.
Believe it or not! You can hardly earn money without buying S chips!
AnthonyTan ( Date: 16-Apr-2010 13:07) Posted:
|
What about S-Chip shares from Tiong Kok??????
Very worry to buy S-chip shares, lol
knightrider ( Date: 16-Apr-2010 12:08) Posted:
Yes, the rule no change! According to the prospectus I read :- (S$’000) FY2006 FY2007 FY2008 1H2009 FP2009 Revenue 132,832 220,728 272,314 217,620 301,673 Gross profit(1) 32,683 21,223 21,351 31,499 45,627 Profit before income tax 21,245 21,197 10,698 36,656 48,415 Profit for the year/period 13,159 13,265 7,782 28,203 38,554 Profit attributable to Shareholders 9,701 10,282 9,272 19,412 29,228 EPS(2) (cents) 1.72 1.82 1.64 3.44 5.17 Notes: (1) Gross profit is net of cost of construction, costs of sales of development properties and direct operating expenses arising from rental of investment properties, plant and machinery including depreciation. (2) For comparative purposes, EPS for the periods under review have been computed based on net profit attributable to Shareholders and the pre-Invitation share capital of 564,995,750 Shares. Page 27 |
|
|
|
Society
China confiscates 112m fake invoices in Jan-May
(Xinhua)
Updated: 2010-06-01 21:26
BEIJING - Chinese police have confiscated more than 112 million fake invoices so far this year, 20 percent more than the total for the whole of last year.
"Police dealt with a total of 2,386 cases in the last five months and arrested 3,686 people, cleaned out 1,227 criminal premises and broke up 207 gangs, said Public Security Ministry spokesman Liu Dong at a news conference Tuesday.
Police also closed 179 websites that were linked to invoice crimes, Liu said.
The police began a crackdown on fake invoices, commonly used to avoid tax payments, in January and it is expected to run till October with the support of the Finance Ministry, the State Administration of Taxation and the National Audit Office.
Tiong Seng issues profit warning for Q1
By Travis Teo | Posted: 01 June 2010 2250 hrs
Photos 1 of 1
SINGAPORE : Mainboard-listed Tiong Seng Holdings has issued a profit warning for its first-quarter results for the three months ending March 31.
The construction and civil engineering contractor said it expects to record a significantly lower revenue and profit on-year.
It said this is due to higher base in the three-month period in 2009 with the completion of its development property, Tianmen Jinwan Building, in China.
Tiong Seng added that revenue for first quarter 2010 was only derived from the sale of the remaining completed units.
It also said that there was a decrease in the work done for its near completed projects.
The company is expected to announce its first-quarter results for the financial period by June 14. - CNA/ms
I keep buying and so far so good!AnthonyTan ( Date: 16-Apr-2010 13:07) Posted:
|
What about S-Chip shares from Tiong Kok??????
Very worry to buy S-chip shares, lol
knightrider ( Date: 16-Apr-2010 12:08) Posted:
Yes, the rule no change! According to the prospectus I read :- (S$’000) FY2006 FY2007 FY2008 1H2009 FP2009 Revenue 132,832 220,728 272,314 217,620 301,673 Gross profit(1) 32,683 21,223 21,351 31,499 45,627 Profit before income tax 21,245 21,197 10,698 36,656 48,415 Profit for the year/period 13,159 13,265 7,782 28,203 38,554 Profit attributable to Shareholders 9,701 10,282 9,272 19,412 29,228 EPS(2) (cents) 1.72 1.82 1.64 3.44 5.17 Notes: (1) Gross profit is net of cost of construction, costs of sales of development properties and direct operating expenses arising from rental of investment properties, plant and machinery including depreciation. (2) For comparative purposes, EPS for the periods under review have been computed based on net profit attributable to Shareholders and the pre-Invitation share capital of 564,995,750 Shares. Page 27 |
|
|
|
Long history in the construction business. Maybe more
than 30 years. Correct me if I am wrong. I think one
of the early construction pioneer, yet when listed it's below
water. Very worry to invest.
Best not to punt with stocks. Do some homework b4 subscribing.
See China Minzhg, stabiliser at work to push the price to $1.190 now. IPO price is $1.20
Only 0.010 off the IPO price.
knightrider ( Date: 16-Apr-2010 14:37) Posted:
Thks for your comment !
I remember newly listed IPO, most of them have the stabliser to buy up and support the IPO price, China HuAn Cable, Tiger etc. I wonder why Debao and this one don't have. IS it a self-impose by the under-writer, and seems this one did not, but they have engaged a finance advisor for 2 yrs. I wonder what this advisor's role, may be to help them do future placement or whatsoever sort of rising more $$. LOL |
|
Agreed, see Suntec Reit and now logistic Cache Reit ! Good Luck.
Have to be very selective. It seems that almost all REIT IPOs are doing well so far.
knightrider ( Date: 16-Apr-2010 14:37) Posted:
Thks for your comment !
I remember newly listed IPO, most of them have the stabliser to buy up and support the IPO price, China HuAn Cable, Tiger etc. I wonder why Debao and this one don't have. IS it a self-impose by the under-writer, and seems this one did not, but they have engaged a finance advisor for 2 yrs. I wonder what this advisor's role, may be to help them do future placement or whatsoever sort of rising more $$. LOL |
|
Thks for your comment !
I remember newly listed IPO, most of them have the stabliser to buy up and support the IPO price, China HuAn Cable, Tiger etc. I wonder why Debao and this one don't have. IS it a self-impose by the under-writer, and seems this one did not, but they have engaged a finance advisor for 2 yrs. I wonder what this advisor's role, may be to help them do future placement or whatsoever sort of rising more $$. LOL
If u buy maybe u can "teo cheng" one hor!!!
B veri careful
AnthonyTan ( Date: 16-Apr-2010 13:07) Posted:
|
What about S-Chip shares from Tiong Kok??????
Very worry to buy S-chip shares, lol
knightrider ( Date: 16-Apr-2010 12:08) Posted:
Yes, the rule no change! According to the prospectus I read :- (S$’000) FY2006 FY2007 FY2008 1H2009 FP2009 Revenue 132,832 220,728 272,314 217,620 301,673 Gross profit(1) 32,683 21,223 21,351 31,499 45,627 Profit before income tax 21,245 21,197 10,698 36,656 48,415 Profit for the year/period 13,159 13,265 7,782 28,203 38,554 Profit attributable to Shareholders 9,701 10,282 9,272 19,412 29,228 EPS(2) (cents) 1.72 1.82 1.64 3.44 5.17 Notes: (1) Gross profit is net of cost of construction, costs of sales of development properties and direct operating expenses arising from rental of investment properties, plant and machinery including depreciation. (2) For comparative purposes, EPS for the periods under review have been computed based on net profit attributable to Shareholders and the pre-Invitation share capital of 564,995,750 Shares. Page 27 |
|
|
|
HaHa , this one also out of my radar screen. Nowadays hard to earn money from IPO. Good luck to all!
