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Lian Beng unit bags S$278.5m deal for construction in Silat Avenue
CONSTRUCTION firm Lian Beng Group on Thursday said that its subsidiary, United Tec Construction, has clinched a S$278.5 million contract for the development of residential flats in Silat Avenue.
The contract was awarded by United Venture Development (Silat), and comprises the development of two blocks of 56-storey apartments (totalling 955 units) with landscaping, multi-storey and basement carparks, as well as communal facilities, Lian Beng said.
It also includes additions and alterations to the existing five blocks of conserved four-storey flats, with 136 units, involving new shops and a childcare centre.
The contract period shall be 42 months and is slated to commence in August.
As at Aug 23, the group's order book stood at about S$1.2 billion, which will provide a sustainable flow of activity till FY2022, Lian Beng said.
It added that none of the company's directors or controlling shareholders has any interest in the contract, save for their shareholdings in the company, if any.
Lian Beng shares closed at 51 Singapore cents apiece on Thursday, up 2 per cent, or one Singapore cent.