SINGAPORE (July 8): Homegrown construction and property group Lian Beng kicked FY2020 off on a strong note, after securing a contract worth $234.7 million for the construction of a fresh food distribution centre for NTUC Fairprice.
Located at Sunview Road, part of the Boon Lay Planning Area, the development is designed by Surbana Jurong and spans 301,000 sf.
The contract was secured via tender through its 60%-owned subsidiary, United Tec Construction, and is slated to start in August 2019 and is expected to be completed by July 2021.
When completed, the seven-storey ramp-up development will be used by NTUC Fairprice as a centre for the receiving, sorting, storage and distribution of fresh food to its retail outlets.
This project follows a construction contract worth $117 million that was secured by the group’s wholly owned subsidiary, Deenn Engineering Pte Ltd, in March 2019.
See: Lian Beng subsidiary wins $117 mil construction contract
With the addition of these recent contracts, Lian Beng’s order book stands at $1.5 billion as at 8 July, and is expected to support the group’s activities through FY2022.
Shares at Lian Beng closed flat at $0.48 today.
