In his Dec 2 report, Chan notes strong demand for LCC’s conservation and restoration services with the company’s latest two contract wins worth $63.4 million in total. The contract wins, which come from public and private sectors — Orchard Road Presbyterian Church worth $31.5 million and the Registries of Civil and Muslim Marriages Building worth $31.9 million — brings LCC’s order book to $160 million and will provide revenue visibility till 2028.
Lim & Tan Securities’ Chan En Jie has kept his “buy” call on Lum Chang Creations (LCC) with a higher target price of 70 cents as he sees brighter prospects for the urban revitalisation specialist ahead. The target price increase is nearly two times higher than his initiated target price of 38 cents back in July, before LCC’s trading debut. It is also pegged to an FY2026/FY2027 P/E of 11.7 times, which is the same as LCC’s peers’ average.
On July 14, Lim & Tan Securities initiated coverage on LCC, recommending investors “subscribe” to its initial public offering (IPO). The brokerage’s target price at the time represented a 52% upside to LCC’s IPO price of 25 cents and a 26.7% upside to LCC’s debut price of 30 cents per share.
