Lum Chang wins S$85.7m construction contract

The S$85.7-million contract involves demolishing and rebuilding works on The Verge.
The S$85.7-million contract involves demolishing and rebuilding works on The Verge.PHOTO: JLL

SINGAPORE - Construction group Lum Chang Holdings has won a contract for building works at 2 Serangoon Road (The Verge) from Corwin Holding, its joint venture company with LaSalle Investment Management Asia.

The S$85.7-million contract, which involves demolishing and rebuilding the main block and refurbishing the adjoining annex block, is expected to be completed in the second half of 2019.

The contract is not expected to have a material impact on the group's profits for the financial year ending June 20, 2018.

It brings the total outstanding value of Lum Chang's construction works yet to be reported as revenue to S$600 million.