CES Engineering & Construction, the wholly-owned subsidiary of Chip Eng Seng Corporation, has been appointed by the Housing & Development Board (HDB) as the replacement main contractor for the Marsiling Grove Build-To-Order (BTO) housing project in Woodlands.
Under the contract, CES Engineering & Construction will oversee the remaining building works to be undertaken for the BTO project.
The contract with HDB is not expected to have any material impact on the net tangible assets (NTA) and earnings per share (EPS) of the company in the financial year ending Dec 31.
Shares in Chip Eng Seng closed 0.5 cent higher or 1.21% up at 42 cents on Sept 29.
