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Tiong Seng Holdings' unit awarded S$29m contract

THE wholly-owned subsidiary of Tiong Seng Holdings has been awarded a S$28.9 million contract for the proposed erection of a condominium development project.

On Tuesday, the construction engineering company said in a Singapore Exchange filing that the contract secured by Tiong Seng Civil Engineering was from TSky Balmoral, a joint venture company of the group.

The development comprises two blocks of 12-storey and three-storey residential buildings with a basement carpark, swimming pool, sky terrace and communal facilities, temporary showflat and sales gallery on LOTS 00138C & 99899P TS 26 at Balmoral Road.

Construction work is due to commence this month.

The contract is not expected to have any material impact on the net tangible assets and earnings per share of the group for the current financial year ending Dec 31, 2018.

Tiong Seng Holdings closed unchanged at S$0.39 on Tuesday.

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