Lum Chang wins S$136.9m construction contract from PSA

LUM Chang unit Lum Chang Building Contractors has won a tender for the construction of PSA Singapore's corporate headquarters.

The contract, valued at S$136.9 million, will involve building a new 20-storey Class A office tower and an adjacent four-storey block with recreational amenities, as well as addition and alteration works at the existing Pasir Panjang Terminal Building 3.

The contract period for the development is 26 months.

Earnings from the contract will be recognised progressively according to the stages of its completion.

This latest contract win brings the total outstanding value of Lum Chang's construction works to be reported as revenue to S$679.5 million.