Lian Beng unit heads for Catalist listing

SLB Development, a property development unit of Lian Beng Group, will be offering its shares to the public as it heads towards a listing on Singapore's Catalist board.

Its preliminary offer document out on Tuesday did not as yet contain details on the number and issue price of shares that will be offered.

But it did say that the SLB Development group has a presence in both Singapore and China, and that it develops and sells residential, mixed-use, industrial and commercial development properties - albeit mainly in Singapore, currently.

SLB Development posted revenues of S$87.6 million in FY 2017, which it said was derived from its development property at Mandai Foodlink; its net profit totalled S$15.8 million and its pre-invitation earnings per share was 2.35 Singapore cents in FY 2017.