Lum Chang Holdings’ subsidiary has secured a contract worth $29.14 million for the addition and alterations to an existing four-storey commercial development at 291 New Bridge road.
The contract was awarded by Shaw Brothers to Lum Chang Interior (LC Interior), the subsidiary of Lum Chang.
The scope of work in the contract includes the design, retrofitting and building works for the mall, retail units, carpark and cinema, including but not limited to mechanical and electrical provisions.
The contract period is about 18 months, and Lum Chang is scheduled to commence work in April 2025.
The group says that revenue from the project will be recognised progressively according to the stages of its completion.
This latest award brings the total outstanding value of construction works yet to be reported as revenue for LC Interior to about $176.7 million.
Shares in Lum Chang closed 1.5 cents higher or 5.357% up at 29.5 cents on Apr 15.
