SINGAPORE (Dec 19): Lian Beng Group’s wholly-owned subsidiary, L.S. Construction, has received a letter of intent (LOI) from Oxley Serangoon for a building contract worth $199.5 million.

Lian Beng (Serangoon), another wholly-owned subsidiary of Lian Beng, holds 20% of the entire paid-up share capital of Oxley Serangoon.

The contract is for the proposed redevelopment of Serangoon Ville, a former HUDC estate at Serangoon North Avenue 1.

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