Chip Eng Seng Clinches $32.9mil Upgrading Contract From HDB
The agreement in regards to the style plus produce of upgrading projects for particular area in SG– which is, Serangoon Avenue 1/ Central, Blocks 401 – 414; Serangoon Avenue 1/ Cntrl, Blks 415 – 427; Lengkong Tiga, Blocks 101 – 116 along with Ubi Ave 1, Blks 301, 302, 304 – 306.
During 29 December, Chip Eng Seng made public that the agreement is going to be completed in 2 parts, with the 1st portion associating the model’s validation as well as generating of brochures and even ballot documents.
The second part is going to require the executing of upgrading efforts in the units related to the abovementioned blks. Regarding this section, the conclusion duration is 1.5 years for the Serangoon as well as Lengkong Tiga precincts, and 9 calendar months for the Ubi district.
“Work for the second part will get started at the time of noted direction via Housing and Development Board,” said Chip Eng Seng.
The contractor hopes for the written agreement to favorably result in its profits per share as well as its net verifiable properties for the following FY as at 31Dec 21.