Sim Lian Group says wholly-owned subsidiary Sim Lian Construction Co. has been awarded a contract worth $99.8 million by the Housing & Development Board for the building works at Queenstown Redevelopment Contract 30 with a total of 774 dwelling units.

The contract is scheduled to start in March 2010 and be completed by February 2013.

The contract is not expected to have a material effect on the net tangible assets and earnings per share of the Company for the current financial year ending 30 June 2010.