In November 2025, Lum Chang Creations announced $63.4 million worth of contract wins, lifting its order book to $160 million from $112.8 million as at June 2025. To Li and Lock, the company’s order win momentum is in line at 45% of their full-year expectations. The order wins will extend project cashflow into FY2028, they add.
CGS International (CGSI) analysts Li Jialin and Lock Mun Yee have maintained their “add” call on Lum Chang Creations as they see the company continuing to benefit from Singapore’s conservation efforts.
However, Li and Lock have lowered their target price to 72 cents from 81 cents previously, as they believe the company’s FY2026 revenue recognition could be back-loaded to the second half of the year. As such, a h-o-h decline in revenue for the 1HFY2026 should not be alarming. “Based on movements in its order book, we estimate that [around] $16 million to $20 million of revenue was recognised in the 4MFY2026. This is below our $51 million expectation for 4MFY2026,” the analysts write in their Jan 7 report.
