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Chip Eng Seng unit wins S$75.9m contract

CHIP Eng Seng Corporation Ltd announced on Tuesday that the company's wholly owned subsidiary, CES-Precast Pte Ltd, was awarded a contract for the supply of precast concrete items for the contract, "Construction of 4-In-1 Rail And Bus Depot And Reception Tunnels For Thomson-East Coast Line".

The contract was awarded by GS Engineering & Construction Corp at an estimated value of S$75.9 million and is not expected to have any material impact on the group's earnings and the net tangible assets of the group for the current financial year ending Dec 31, 2016.

According to the board of directors, none of them and the substantial shareholders or controlling shareholders of the company has any direct or indirect interest in the transaction.