Global Resource Construction’s (SGX:SN3
) subsidiary, Chip Eng Seng Contractors, has been awarded a civil engineering works contract valued at $95.7 million by Housing & Development Board (HDB).
The contract involves major infrastructure works at Sembawang Contract 2 and the construction period is expected to stretch across 55 months, with works scheduled to commence in the second quarter.
The company expects this contract to contribute positively to its net tangible assets and earnings per share for the financial year ending Dec 31, 2026.
Shares in Global Resource Construction closed 0.2 cents higher or 1.92% up at 10.6 cents on May 25.
