Lian Beng

Lian Beng: ($0.535) Series of share purchases by controlling Ong family provides insider support We highlight a series of open market share acquisitions, which took place since 11 Oct, by controlling stakeholders Ong Sek Chong and his family members. During the past 41-day period, the Ong-family’s controlling stake advanced from 30.14% to 34.33%, arising from the purchase of 22.2m shares at between $0.525-0.565 apiece. Traditionally, insider purchases are viewed as having a positive signaling effect on stocks. At $0.535, Lian Beng’s valuations remain attractive at 4.3x forward P/E, compared to its closest peer Tiong Seng at 6.7x. The Ong family includes separate shareholders mainly Ong Sek Chong & Sons, Ong Pang Aik, Ong Lay Huan and Ong Lay Koon.