Lum Chang Holdings announced wholly owned subsidiary, Lum Chang Building Contractors, has won a contract to build a 14-storey high-specification industrial building and provide asset enhancement woks to three existing buildings.
The contract valued at $60.8 million, was awarded by DBS Trustee on behalf of Mapletree Industrial Trust. Located at the junction of Boon Keng Road and Kallang Place, the new building will have a 14-storey multi-user block and a two-storey carpark. The upgrading works for the three existing buildings will include lift lobbies and corridors, and the modernisation of lifts and lift car replacements.
The contract period is for 19 months and will be carried out over seven phases. Work will start next month.
Lum Chang says the latest contract is not expected to have a material financial impact on the group's profits for the current financial year but will bring Lum Chang's total outstanding value of construction projects still in progress to $558 million.
Shares of Lum Chang closed unchanged at 36 cents.
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The contract valued at $60.8 million, was awarded by DBS Trustee on behalf of Mapletree Industrial Trust. Located at the junction of Boon Keng Road and Kallang Place, the new building will have a 14-storey multi-user block and a two-storey carpark. The upgrading works for the three existing buildings will include lift lobbies and corridors, and the modernisation of lifts and lift car replacements.
The contract period is for 19 months and will be carried out over seven phases. Work will start next month.
Lum Chang says the latest contract is not expected to have a material financial impact on the group's profits for the current financial year but will bring Lum Chang's total outstanding value of construction projects still in progress to $558 million.
Shares of Lum Chang closed unchanged at 36 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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