InvestIdeas

November 10, 2009, 6.25 pm (Singapore time)

Wee Hur gets boost from major projects

By OH BOON PING

Construction-related Wee Hur Holdings has nearly trebled its net profit to $13.15 million for the nine months ended Sept 30, while revenue rose 81 per cent to nearly $161 million.

The company did not report quarterly figures.

Based on its post-invitation share capital on a fully diluted basis, its earnings per share came to 4.10 cents - up from 1.38 cents a year ago.

The group attributed the higher turnover to more contributions coming from 'major projects with substantially higher contract value now in their more matured and/or completed stage of work in progress'.

As of end September, the group has about $279.6 million worth of contracts with completion dates ranging between late FY2009 to FY2013.

Wee Hur FY2009 net profit doubles to S$16.3 million
• FY2009 revenue surges 63% to S$206.9 million
• Strong balance sheet with cash and bank balances of S$31.4 million as at 31 December 2009
• Proposes final dividend of 1.5 cents per share following interim dividend of 1 cent per share
http://info.sgx.com/webcoranncatth.nsf/ ... penelement

March 23, 2010, 2.30 pm (Singapore time)

Wee Hur wins $103.6m Jurong entertainment centre deal

By ANGELA TAN

SINGAPORE - Wee Hur Holdings Ltd said on Tuesday that its subsidiary, Wee Hur Construction Pte Ltd, has secured a $103.6 million (US$73.9 million) for the proposed enhancement of Jurong Entertainment Centre at 2 Jurong East Street 13 from HSBC Institutional Trust Services (Singapore) Limited, Trustee of CapitaMall Trust.

Results out... up 31%

http://info.sgx.com/webcoranncatth.nsf/ ... cement.pdf

May 20, 2010, 7.05 pm (Singapore time)

Wee Hur to invest S$13.7 mln for 30% stake in China pty JV

By ANGELA TAN

Wee Hur Holdings Ltd said on Thursday that it plans to invest RMB66.8 million (S$13.7 million) for a 30 per cent stake in a joint venture (JV) to engage in property development and related businesses in China.

Wee Hur has entered into a non-binding Memorandum of Understanding (MOU) with Hui Feng Real Estate Co, Ltd to set up this JV.

The JV will acquire the entire interest in Hui Feng Real Estate Enterprise Co, Ltd along with its land use rights to four plots of land in Huai'an City, Jiangsu Province - targeted for a mix of commercial and residential projects.

'Hui Feng's available land use rights to the four plots of land will speed up the process of our property development business in China,' Wee Hur's executive chairman, Mr Goh Yeow Lian said.

Under the MOU, Wee Hur and Hui Feng could enter into definitive written agreements within three months.

Wee Hur secures S$109 mln HDB project By JASMINE NG

Wee Hur Construction Pte Ltd announced on Friday that it has secured a S$109 million public housing building works project from the Housing & Development Board (HDB).

This is the second HDB project it managed to secure this year. The first was a S$65 million contract for HDB building works at Jurong West Neighbourhood 2 in January this year.

The scope of the most recent project covers the construction of eight residential blocks, an electrical substation, a multi-storey car park, minor sewer services and landscaping works at Yishun Neighbourhood 4.

The project will form a precinct named Vista Spring @ Yishun, and will comprise of 696 dwelling units.

The project will commence from June 23 and is expected to be completed by March 2014.

As at the end of March this year, the group's order book stood at approximately $333.6 million.

The company said revenue from the project will come in mainly in the financial years of 2012 to 2014.

http://www.businesstimes.com.sg/sub/lat ... 16,00.html?

not vested

Wee Hur said its property development arm has won a tender for a 99-year lease land parcel for residential use in Pungol, Singapore, for S$206.2 million ($159 million).

Source: Reuters

(Sometimes you get a feel of the management not directly but from what others said)


After the penny stock crash, Mr Heng said that Mr Goh and his uncle - Mr Adrian Goh's father - tried to put pressure on him to be the "scapegoat" and to accept personal liability for the losses.

Mr Heng alleged that the Gohs offered him a job in Vietnam in exchange for admitting that the October trades were unauthorised.

AmFraser goes to trial over $1.88m suit against former client
http://www.straitstimes.com/business/am ... mer-client

Wee Hur to sell Brisbane CBD property for $68 mil
http://www.theedgemarkets.com.sg/sg/art ... rty-68-mil

wee-hur-2q-earnings-double-33-mil-spite-lower-revenue
https://www.theedgesingapore.com/wee-hu ... er-revenue