Chip Eng Seng’s wholly-owned subsidiary CES Engineering & Construction has been awarded a $173.5 million building works contract by the Housing and Development Board.
The contract relates to building works to be undertaken at Hougang Neighborhood 2 Contract 11, which also includes a community club and a park.
The construction period, which spans 48 months, is expected to commence end-June.
The contract is not expected to have any material impact on the net tangible assets and earnings per share of the company for the current FY ending December 31.
Shares in Chip Eng Seng closed unchanged on May 31 at 43 cents.
