Corporate digest

Published Sat, Mar 20, 2021 · 05:50 AM

Lian Beng Group

LIAN Beng Group has obtained a S$131 million contract through a subsidiary, for developing a residential project with communal facilities, and this is expected to have a positive financial impact on the group's financials.

United Tec Construction, 60 per cent owned by mainboard-listed Lian Beng, has clinched the deal from United Venture Development (2020) for the proposed development of 16 blocks of 5-storey flats with 448 units, a childcare centre, a basement carpark,a swimming pool and communal facilities in Canberra Drive.

Lian Beng said the project is expected to have a positive financial impact on the net tangible assets and earning per share of the group for the financial year to May.

Currently, its order book at S$1.6 billion will provide a sustainable flow of activity through FY2025, Lian Beng said.


Sen Yue Holdings

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SEN Yue will oppose the interim judicial management applications and the judicial management applications fixed for hearing on April 1 and May 10 respectively.

Sen Yue and SMC Industrial - its wholly owned subsidiary - are facing the applications from DBS, after the latter owes the bank around S$5.9 million and has about US$9 million outstanding, plus all accrued interest and legal costs on an indemnity basis.

The Catalist-listed firm said Hong Kong and Shanghai Banking Corp is participating as a creditor in the applications.


Yunnan Energy International

YUNNAN Energy International has said its bottom line is expected to be a net loss that is 200 per cent higher year-on-year than the HK$19.8 million loss clocked in the year-ago period, based on preliminary assessment of the latest unaudited accounts.

Revenue was hit by the pandemic, and therefore affected the bottom line of the mainboard-listed distributor of laboratory instruments and life science equipment.

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