Chip Eng Seng Corp’s wholly owned subsidiary CES Engineering & Construction has clinched a $32.9 million contract from the Housing & Development Board (HDB).

The contract relates to upgrading works at the HDB blocks in Lengkong Tiga, Serangoon Avenue 1 and Ubi Avenue 1.

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Chip Eng Seng says the contract is expected to contribute “positively” to its earnings per share and net tangible assets only in FY2021 ending Dec 31.

Chip Eng Seng closed flat at 43 cents with 171,500 shares changed hands on Dec 29.