Chip Eng Seng Corp’s wholly owned subsidiary CES Engineering & Construction has clinched a $32.9 million contract from the Housing & Development Board (HDB).
The contract relates to upgrading works at the HDB blocks in Lengkong Tiga, Serangoon Avenue 1 and Ubi Avenue 1.
Chip Eng Seng says the contract is expected to contribute “positively” to its earnings per share and net tangible assets only in FY2021 ending Dec 31.
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Chip Eng Seng closed flat at 43 cents with 171,500 shares changed hands on Dec 29.
