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Executive director Ong Lay Koon met investment professionals at the Group's results briefing held at Lian Beng's HQ on Thursday. Below is a summary of questions raised at the meeting, and her replies.
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Q: What rental income do you expect to generate with these new property developments, including dormitories?
Including dormitories, Prudential Tower, the Melbourne project, we are targeting S$20 million a year in rental income by FY2016.
Q: Is your export business of ready-mixed concrete profitable?
Yes, we are breaking even after expenses and depreciation. We are trying to tender for premix projects.
| LBG SP |
53.5 cents |
| 52-week range |
46.1 – 68.2 cents |
| Market cap |
S$267.4 million |
| Current PE |
2.11 X |
1QFY2016
Pre-tax margin |
25.5% |
| NAV per share |
96.42 cents |
| Dividend yield |
1.89% |
Q: What was the average price you paid for your Treasury shares?
We have 23 million Treasury shares with average price above 50 cents.
Q: What do you look at to decide whether to repurchase shares?
There are guidelines under the share buyback mandate, such as purchase price being no more than 105% of the average closing price of the last 5 market days. We also look at our book value when deciding whether to repurchase shares. At one time, we bought at about 60 cents because our book value was about 70 cents then.
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