Construction counters are making a comeback. Chippy, Tat Hong, Koh Brothers, Yongnam, Koh Brothers, Sin Heng, HL Asia, Tiong Woon, Lian Beng etc.

Some haven't run up yet. Some are starting to run Big Grin
Chippie up +1.5cts already dance
Chip Eng Seng Q1 profit soars on property project

The Business Times - May 9, 2014

CONSTRUCTION and property group Chip Eng Seng's first-quarter net profit more than quadrupled year-on-year, mainly from higher revenue in its property development division.

Net profit for the period ended March 31, 2014, was $21.6 million or 3.35 cents per share, up from $4.67 million or 0.72 cent per share a year ago.

The group's net profit margin was 10.9 per cent for the quarter, higher than the 3.6 per cent in Q1, 2013.

First-quarter revenue rose 51.7 per cent year-on-year to $197.8 million, due mainly to higher revenue from the property development segment.

The property development division posted the largest rise, with a near doubling of revenue to $125.1 million, from $64.2 million in the year-ago period.

Chip Eng Seng said the increase was due to revenue recognised from a completed commercial project known as 100 Pasir Panjang.

Its construction division also recorded a 9.6 per cent increase in revenue to $71.7 million.

Helping the bottomline as well was significantly lower marketing and distribution expenses.

The group spent $0.8 million on marketing and distribution in the quarter, compared to $8.5 million in the year-ago period.

The higher expenses last year was attributed to sales commission incurred for two newly launched development projects, Alexandra Central and Tower Melbourne, said the group.

Net asset value per share for the group was 81.39 cents as at end-March, up from 77.12 cents at end-December.
Cheap! Eng Seng
Now it is quite cheap. Getting ready to trend upwards.

thumbs up
It has always been CHIP eng seng. Will it ever become DEAR eng seng? Laughing
Good news on the Tower Melbourne issue. Looks like construction/demolition is ongoing and everything is slated to be completed in 2018.

CEL Australia would like to inform that while demolition work has been delayed, we are moving toward a resolution and recommencement of works on site. We look forward to seeing this spectacular project rise into Melbourne's skyline and advise that the expected date for completion is early 2018.


Quote:Chip Eng Seng's Q2 net profit up 173% on completion of Pasir Ris condo

Published on Aug 6, 2014 8:41 PM

[Image: AL-belysa-condo-0608e.jpg]

By Chia Yan MinSINGAPORE - Construction and property group Chip Eng Seng's second quarter earnings surged 173 per cent over last year, mainly due to the completion of a joint venture residential project.

The company posted net profit of $18.6 million for the three months ended June 30, up from $6.83 million in the same quarter last year.

This was largely due to profit recognition from the completion of a condominium development named Belysa in Pasir Ris, which the group has a 40 per cent stake in. The development obtained its temporary occupation permit in the second quarter.

Revenue for the quarter was $123.6 million, up 13.4 per cent from the same period last year.
Chip Eng Seng (SGX: C29)
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