Lum Chang sees total outstanding construction works revenue lifted to $1.8 bil with Mandai Rejuvenation Project tender

Uma DeviMon, May 04, 2020 • 08:48 AM GMT+08 • 1 min read

Lum Chang sees total outstanding construction works revenue lifted to $1.8 bil with Mandai Rejuvenation Project tender

This contract brings the total outstanding value of construction works yet to be reported as revenue for the group to some $1.8 billion.

SINGAPORE (May 4): Mainboard-listed builder Lum Chang has secured a tender for the Mandai Rejuvenation Project through its wholly-owned subsidiary Lum Chang Building Contractors.

In a regulatory filing on Monday, the group says that the scope of the contract constitutes the construction of an arrival node, transport hub, nature-themed indoor attractions and a resort.

This contract brings the total outstanding value of construction works yet to be reported as revenue for the group to some $1.8 billion.

In its latest set of results for 2QFY2020 ended December that was released on Feb 13, Lum Chang had reported that its outstanding value of construction projects “in progress” stood at $1.15 billion.

The group says that the project is not expected to have a material financial impact on the its results for the current financial year ending June 30.

Shares in Lum Chang closed flat at 31.5 cents on Thursday.