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Chip Eng Seng subsidiary becomes replacement main contractor for Marsiling Grove BTO project

Felicia Tan
Felicia Tan9/29/2021 08:00 PM GMT+08  • 1 min read
Chip Eng Seng subsidiary becomes replacement main contractor for Marsiling Grove BTO project
Shares in Chip Eng Seng closed 0.5 cent higher or 1.21% up at 42 cents on Sept 29.
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CES Engineering & Construction, the wholly-owned subsidiary of Chip Eng Seng Corporation, has been appointed by the Housing & Development Board (HDB) as the replacement main contractor for the Marsiling Grove Build-To-Order (BTO) housing project in Woodlands.

Under the contract, CES Engineering & Construction will oversee the remaining building works to be undertaken for the BTO project.

The contract with HDB is not expected to have any material impact on the net tangible assets (NTA) and earnings per share (EPS) of the company in the financial year ending Dec 31.

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