Lian Beng wins S$88m contract from UOL Development

Construction company Lian Beng has clinched a S$88 million contract to build a condominium development at Spottiswoode Park Road.

Awarded by UOL Development, the contract will cover the construction of a 36-storey residential tower, and other ancillary facilities.

This marks the Group’s fourth building contract from the private residential sector since March.

This latest contract will boost Lian Beng’s order book to approximately S$940 million.

Work on the development is scheduled to begin in July, and is expected to be complete by the second quarter of 2013.

For the nine months ended 28 February 2010, Lian Beng reported a 52 per cent growth in net profit to S$17.4 million.

This came on the back of a 4.5 per cent improvement in revenue to S$240.5 million.

The Group will be reporting its full year results at the end of July.

Source : Channel NewsAsia – 30 Jun 2010

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