Lum Chang Secures SGD29.14 Million Contract for Additions and Alterations Works
Lum Chang Holdings Limited, a Singapore-based construction and property development company, has announced that its subsidiary, Lum Chang Interior Pte. Ltd. (LC Interior), has secured a contract valued at approximately SGD29.14 million. The contract is for the proposed additions and alterations to an existing four-storey commercial development with two basements at 291 New Bridge Road, Outram Planning Area.
Key Points:
The contract was awarded by Shaw Brothers Limited.
The scope of the contract includes design, retrofitting, and building works for the mall, retail units, carpark, and cinema, including mechanical and electrical provisions.
The contract period is approximately 18 months, with work scheduled to commence in April 2025.
The revenue from the project will be recognized progressively according to the stages of its completion.
Important Information for Shareholders:
The contract is not expected to have a material financial impact on the Group’s results for the current financial year ending 30 June 2025.
The total outstanding value of construction works yet to be reported as revenue for LC Interior is approximately SGD176.7 million.
Impact on Share Price:
The securing of this contract is a positive development for Lum Chang, as it indicates the company’s continued ability to win new projects and grow its revenue pipeline. However, the impact on the share price may be limited, as the contract value is not considered material to the company’s financial performance.
About Lum Chang:
Lum Chang has been listed on the Mainboard of Singapore Exchange since 1984. With its origin in construction since the 1940s, the Group has evolved and grown to include businesses in property development and property investment. Its construction projects cut across all segments of real estate with commercial, residential, building, industrial, and infrastructural projects.
About Lum Chang Interior Pte. Ltd.:
Lum Chang Interior Pte. Ltd. (LC Interior) is owned 80% by the Lum Chang Group and was incorporated in February 2018. The remaining 20% interest is held by Lim Thiam Hooi, who currently serves as its Managing Director.
Disclaimer:
This article is for informational purposes only and does not constitute an investment advice. Investors should do their own research and consult with a financial advisor before making any investment decisions. The information contained in this article is based on publicly available data and may not be up-to-date or accurate.
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