Lian Beng (Serangoon)

Lian Beng subsidiary receives LOI for $199.5 mil construction contract

SINGAPORE (Dec 19): Lian Beng Group’s wholly-owned subsidiary, L.S. Construction, has received a letter of intent (LOI) from Oxley Serangoon for a building contract worth $199.5 million.

Lian Beng (Serangoon), another wholly-owned subsidiary of Lian Beng, holds 20% of the entire paid-up share capital of Oxley Serangoon.

The contract is for the proposed redevelopment of Serangoon Ville, a former HUDC estate at Serangoon North Avenue 1.

Oxley-led JV to buy former Serangoon North HUDC estate for $499 mil

SINGAPORE (July 26): Oxley Serangoon, a joint venture company led by Oxley Holdings, announced Wednesday that its bid for the purchase of Serangoon Ville at a price of $499 million has been accepted by the owners of the property.

Spanning some 27,584 sqm at Serangoon North Avenue 1, the Serangoon Ville property is a former HUDC estate which has been privatised.

Oxley Serangoon says it intends to apply for the grant of a fresh lease of at least 99 years for the land, and redevelop the property.

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