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Lian Beng subsidiary secures S$117m contract
PROPERTY firm Lian Beng Group on Monday announced that its wholly-owned subsidiary Deenn Engineering Pte Ltd has secured a construction contract worth approximately S$117 million.
The contract for the construction of a building is to commence on March 19, with a contract period of 36 months, Lian Beng said in a filing to the Singapore Exchange.
It is expected to have a positive financial impact on the net tangible assets per share and earnings per share of the group for the current financial year ending May 31. With this contract, the group's construction order book stands at S$1.32 billion as at March 18.
Lian Beng shares closed unchanged at S$0.49 on Monday before the announcement.