Lum Chang wins S$110 million contract to build hotel along Orchard Rd

SINGAPORE construction player Lum Chang : L19 0%’s wholly-owned subsidiary, Lum Chang Building Contractors, has secured a tender to build a 19-storey hotel along Orchard Road for S$110 million.

The contract was awarded by UOL Property Investments and is scheduled to be completed over a 36-month period starting from April next year. The hotel is expected to have 246 rooms with ancillary facilities, said the company in a bourse filing on Thursday (Dec 22).

The contract is not expected to have a material financial impact on the group’s results for the financial year ending Jun 30, 2023. The earnings from the contract will be recognised progressively according to the stages of its completion.

The latest contract win brings the total outstanding value of construction works yet to be reported as revenue for the subsidiary to about S$1.6 billion.

Shares of Lum Chang closed flat at S$0.38 on Thursday, before the announcement.

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