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Lum Chang unit wins S$155.5 million contract to refurbish former State Courts building
MAINBOARD-LISTED construction group Lum Chang Holdings has clinched a S$155.5 million contract to refurbish the iconic former State Courts building in Havelock Square.
The contract value, which includes an optional five-year maintenance service package worth S$9.4 million, takes wholly-owned Lum Chang Building Contractors’ outstanding construction works yet to be reported as revenue to S$1.9 billion.
But the latest award is not expected to have a material impact on the group’s financial results for the year to June 30, the board said on Monday. The project is expected to begin on Aug 3 and construction will take 28 months, with revenue to be recognised progressively.
With the State Courts having already shifted to adjacent 35-storey towers, The Octagon at Havelock Square is slated to house the Family Justice Courts after retrofitting.
Lum Chang beat seven other bidders, including Tiong Aik Construction, in the two-envelope tender for additions and alterations to the conserved nine-storey octagonal building.
It will carry out structural strengthening and façade conservation works, as well as lay new floor slabs and replace the lifts, among other activities.
The counter closed flat at S$0.315, before the latest announcement.