Corporate digest

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

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.