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Market UpdatesSingapore SGX stocks

Lum Chang Holdings Wins SGD 26.9M Contract for Bedok Community Hospital Retrofitting Project

Posted on September 17, 2024 at 11:02 am (GMT+8)

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Date of Report
17 September 2024

Broker
Maybank Research Pte. Ltd.

Contract Award for Bedok Community Hospital

Lum Chang Holdings announced that its subsidiary, Lum Chang Interior, has secured a contract for retrofitting works to operationalize the Community Hospital at Bedok. The contract is valued at approximately SGD 26.9 million.

Scope of Work

The contract, awarded by the Ministry of Health, includes:

  • Design and retrofitting of the hospital
  • Completion of building works
  • Mechanical, electrical, plumbing, and fire safety works

Project Timeline

The project has a contract period of approximately six months. Lum Chang Interior is scheduled to begin the work in September 2024.

Financial Impact

Revenue from the project will be recognized progressively according to the completion stages. This contract brings the total outstanding value of construction works yet to be reported as revenue for Lum Chang Interior to about SGD 177.3 million.

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