Lian Beng subsidiary lands nearly S$108 million contract

Mural of construction gear in Singapore's Little India neighborhood.Mural of construction gear in Singapore's Little India neighborhood.

Lian Beng Group’s 60 percent-owned subsidiary United Tec Construction landed an around S$107.5 million contract from CEL Newton to build a residential development at Kampong Java Road, the company said in a filing to SGX Friday.

The work under the contract includes building two 23-storey apartment towers with a total of 378 units as well as the landscape deck, common basement carparks and communal facilities, Lian Beng said.

Work is expected to begin this month and be completed by June 2022, the filing said.

Lian Beng said the contract is expected to positively impact earnings per share for the current financial year, which ends 31 May 2020.

As of Friday, Lian Beng’s order book was at around S$1.5 billion, providing sustainable activity flow through fiscal 2023, the filing said.

The project is near Newton Circus and the Newton MRT station as well as the Newton Food Centre, the filing said.

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