Lian Beng unit snags S$95.8m deal for construction of condo at Flora Drive
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A UNIT of mainboard-listed construction firm Lian Beng Group on Monday snagged a contract - worth S$95.8 million - for the construction of a condominium at Flora Drive.
The subsidiary - Lian Beng Construction (1988) - was awarded the 33-month contract by Tripartite Developers for the proposed development, which will comprise of 9 eight-storey residential blocks totalling 428 units. The construction works will also include the construction of a clubhouse, a basement carpark, swimming pool and a tennis court, the firm said in a filing with the Singapore Exchange.
Construction is expected to start in July 2018.
Lian Beng said: "The contract is expected to have a positive financial impact on the net tangible assets per share and earning per share of the group for the current financial year ending May 31, 2019."
As at June 18 June, Lian Beng's order book stood at approximately S$1.02 billion.
Its shares closed flat at S$0.56 on Monday before the announcement.
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