Lian Beng: Annouced that its wholly-owned subsidiary, Deenn Engineering Pte Ltd, has on 9 Nov granted an option to Smart United Investments Pte Ltd to purchase the property at 7 Temasek Boulevard, #17-01 Suntec City Tower One. The sale price of the Property is $9.9m….
Estimated net gain on the Transaction is $3.3m. Based on latest audited consolidated financial statements of the Group for May FY10, NTA of the Group would have increased from 27.16c to 27.79c and EPS of group would have increased from 4.54 to 5.16c….
We note that Grp currently trades at undemanding valuations at 4.55x FY11E P/E vs peers average of 6.1x.
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