Construction and property development firm Lum Chang Holdings says it has secured a tender for an industrial project at Kallang Way worth $127.1 million.
The contract, which was executed with Mapletree Industrial Trust’s trustee, DBS Trustee Limited, was signed by Lum Chang’s wholly-owned subsidiary Lum Chang Building Contractors.
The project is scheduled to be completed over a 21-month period, and it’s slated to begin in late November 2020.
Under the contract, Lum Chang Building Contractors’ scope of works includes the construction of two multi-user general industrial buildings.
Lum Chang says the earnings from the project will be recognised progressively throughout the stages of its completion.
The latest contract brings the total outstanding value of construction works yet to be reported as revenue for Lum Chang Building Contractors to some $1.9 billion.
As at 3.56pm, shares in Lum Chang are trading 1 cent higher or 2.9% up at 35 cents.
See: Lum Chang wins $155.5 mil contract from Singapore government to refurbish Octagon building at Havelock Square
