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Hot stock: Lum Chang shares sink on MD’s involvement in Iswaran probe

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Michelle Zhu

Michelle Zhu

Published Tue, Mar 26, 2024 · 11:24 AM
    • The Land Transport Authority says it has not awarded any contract to Lum Chang Building Contractors since 2019. 
    • The Land Transport Authority says it has not awarded any contract to Lum Chang Building Contractors since 2019.  PHOTO: EPA-EFE

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    SHARES of Lum Chang fell more than 10 per cent on Tuesday (Mar 26) after the company revealed that its managing director, David Lum, had “attended several interviews” with the Corrupt Practices Investigation Bureau (CPIB) to assist on the latest charges filed against Singapore’s former transport minister S Iswaran.

    As at 9.54 am on Tuesday, Lum Chang had fallen as much as 10.3 per cent or S$0.03 to S$0.26. It later recovered to S$0.285, down S$0.005 or 1.7 per cent, with 50,000 shares transacted as at 11 am.

    The counter ended the day at S$0.26, down S$0.03 or 10.4 per cent, with 56,000 shares changing hands. No married deals were recorded, according to ShareInvestor data.

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    Lum ChangHot StockS IswaranCorruptionConstructionLTA

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