Tiong Seng Holdings’ wholly-owned subsidiary Tiong Seng Contractors has been awarded a contract by the Ministry of Culture, Community and Youth worth $192.3 million on Dec 10.
The contract is for the construction, completion and maintenance of the works for the development of an Outward Bound Singapore (OBS) Campus at Coney Island and Lorong Halus (Punggol Planning Area), Singapore.
The possession of the site is expected to take place in December 2020. The contract is not expected to have any material impact on the net tangible assets and earnings per share of the group for the financial year ending Dec 31.
Shares in Tiong Seng closed flat at 14.3 cents on Dec 10.