Company Briefs: Lian Beng Group

Lian Beng Group

Construction company Lian Beng Group has secured its largestcontract.

The $435 million deal was awarded by the Housing Board to build a high-rise industrial complex in Kim Chuan Road in the Defu South area, the company said in a Singapore Exchange filing yesterday.

The complex is part of HDB's initiative to redevelop the 30-year-old Defu Industrial Estate into a green and sustainable industrial park, increasing the amount of factory space by fivefold.

Mainboard-listed Lian Beng's order book is now at about $644 million, which will provide a sustainable flow of activity through 2020.

Construction is expected to start in the second quarter of this year and will take about three years to complete.

Singapore Exchange

Global index provider FTSE Russell has launched two new indexes tracking SGX-listed companies in the consumer goods and service sector.

The FTSE ST Consumer Goods and Services index comprises constituents in either the consumer goods or service industries, while the FTSE Consumer Goods and Services Liquid 20 Index comprises the most liquid stocks in the sector.

Both are a subset of the FTSE ST All-Share Index, and will help meet increasing investor demand for sector-specific analytical and benchmarking tools, a statement by FTSE said.

At its launch, some of the constituents of the 20 most liquid stocks were Sheng Siong Group, Singapore Press Holdingsand Thai Beverage.

Singapore Post

The chief executive officer of the SingPost unit SP Commerce resigned yesterday.

Mr Marcelo Wesseler's last day will be on June 5, the company said.

Mr Paul Demirdjian, the president and CEO of the company's United States subsidiary Jagged Peak, has been appointed the interim CEO and will oversee the group's businesses in the US.

Mr Wesseler had been CEO of the company's e-commerce business. He relocated to the US in December 2015.

A version of this article appeared in the print edition of The Straits Times on March 07, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe