SINGAPORE (Mar 2): Mainboard-listed developer Chip Eng Seng, through its wholly-owned subsidiary Chip Eng Seng Contractors, has bagged a contract worth $98.7 million from the Housing and Development Board (HDB).
The contract relates to building works to be undertaken at Tampines Neighbourhood 8 under Contract 31, the group reported in a regulatory filing on Monday.
This contract will see the group take on the construction of six blocks, connecting linkways and linkbridges, a multi-storey car park, precinct pavilions, a roof garden, as well as a childcare centre.
The construction period, which spans over 30 months, is expected to commence in March.
Chip Eng Seng says that the contract is not expected to have any material impact on its net tangible assets and earnings per share the current financial year ending Dec 31.
Shares in Chip Eng Seng closed one cent lower, or 1.7% down, at 59 cents on Friday.
