Lum Chang Holdings’ subsidiary, Lum Chang Interior (LC Interior), has secured a contract for the provision of retrofitting works to operationalise a community hospital in Bedok.
The contract, awarded by the Ministry of Health, is valued at approximately $26.9 million. This brings the total outstanding value of construction works for the group — which has yet to be reported as revenue — to approximately $177.3 million.
According to a Sept 16 bourse filing, the scope of the contract includes the design, retrofitting and completion of building works including but not limited to all mechanical, electrical, plumbing and fire safety works.
The contract period is approximately six months long and is scheduled to commence in September.
The contract is not expected to have a material financial impact on Lum Chang Holdings L19 ’ results for the current financial year ending June 30, 2025.
In March, the group was awarded a contract for proposed conservation and restoration works to the National Museum of Singapore's existing monument block, which brought LC Interior’s total order book to approximately $170.4 million.
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In February, Lum Chang Holdings reported earnings of $3.6 million in the 1HFY2024 ended Dec 31, 2023, 431% higher than the earnings of $684,000 in the same period the year before.
Lum Kok Seng, managing director of Lum Chang Holdings, was named in March for allegedly giving various gifts to then-Transport Minister S Iswaran between November 2021 and November 2022. Iswaran was subsequently handed eight charges.
Shares in Lum Chang Holdings closed flat at 29.5 cents on Sept 16.
