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Lum Chang unit scores S$60.8m tender for industrial building

LUM Chang Holdings announced on Friday that its wholly owned subsidiary, Lum Chang Building Contractors, has scored a S$60.8 million contract to build a 14-storey industrial building.

The high-specification building will be located at the junction of Boon Keng Road and Kallang Place.

The scope of the contract also includes upgrading works to three existing buildings. These will be for lift lobbies and corridors, and will also include the modernisation of lifts and lift car replacements.

The contract period is 19 months, and will be carried out over seven phases. The work will start next month.

Lum Chang said that this is not expected to have a material financial impact on the group's profits for the current financial year.

This latest contract - which was awarded by DBS Trustee, as trustee of Mapletree Industrial Trust - brings Lum Chang's total outstanding value of construction projects still in progress to S$558 million.

Lum Chang shares closed unchanged at S$0.36.