Chip Eng Seng Unit Bags S$98.7m HDB Contract

The Housing & Development Board (HDB) has given a S$98.7 million contract for building works to Singapore company Chip Eng Seng Contractors (1988), a wholly-owned subsidiary of SGX-listed real estate conglomerate, Chip Eng Seng (CES).

This contract involves the building works to be undertaken in the east of Singapore at Tampines. They include the construction of 6 residential blocks, connecting linkways and link bridges, precinct pavilions, a multi-storey car park, a roof garden and a childcare centre, says the company in a regulatory filing earlier on Monday.

The construction period is indicated as 30 months, starting from the month of March 2020.

We congratulate CEL Development, the developer for Kopar At Newton, for sealing this good deal.

On a side note, Chip Eng Seng shares closed at S$0.59 on earlier Friday, down by S$0.01 or 1.7 per cent.

Source: https://www.businesstimes.com.sg/companies-markets/chip-eng-seng-unit-bags-s987m-hdb-contract

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