Lum Chang - Newsroom

2012

Incorporation of New Subsidiaries and Proposed Acquisition of Freehold Property Located at 42-60 (Even) Kensington High Street, London, United Kingdom

20 December 2012

The Group today announced the incorporation of two wholly-owned subsidiaries, Lum Chang UK Properties Limited and Old Court House Propco Limited, for the purposes of undertaking property investment projects in the United Kingdom.

The Group has also announced the proposed acquisition of a mixed-use property for a net consideration of £40.19 million (approximately S$80.38 million) in Kensington High Street, London.

The property comprises retail outlets with a floor area of approximately 41,000 sq ft, residential and office units. The completion of the proposed acquisition is expected to take place on 8 February 2013.

Lum Chang’s Partnership Wins Executive Condominium Housing Site at Woodlands

10 October 2012

The Joint Venture of Lum Chang’s Binjai Holdings and Frasers Centrepoint’s Opal Star has won the 99-year leasehold Woodlands Executive Condominium housing site with a bid of S$150.18 million or S$302 psf, of which Lum Chang owns 30% stake in the venture.

The Executive Condominium is situated at Woodlands Avenue 6 and Woodlands Drive 16 within close proximity to the Admiralty Station and the upcoming Woodlands South Station. It is also a short drive away from Causeway Point shopping mall and major expressways.

This development is expected to yield an estimated 447 units in eight blocks of 12 storeys each.

Appointment of Mr Tony Fong as Executive Director of the Board

02 July 2012

Mr Tony Fong has been appointed Executive Director of Lum Chang Holdings Limited with effect from 2 July 2012.

In his capacity as Executive Director, Mr Fong will continue to oversee the financial management functions of the Group and also contribute to the Group's business development and strategic plans.

LCBC secured a SGD 143.7 million construction contract for Ripple Bay condominium at Jalan Loyang Besar/Pasir Ris Drive 4

30 April 2012

LCBC was awarded a S$143.7 million contract by MCL Land (Pasir Ris) Pte Ltd to construct a condominium development at Jalan Loyang Besar/Pasir Ris Drive 4.

The scope of the contract includes the construction of 679 residential units, a basement carpark, tennis court, swimming pool, and clubhouse facilities. The target date of completion is expected to be in the first half of 2015.

Disposal of Interest in FirstOffice Pte Ltd

22 February 2012

Lum Chang Building Contractors Pte Ltd, a wholly-owned subsidiary of Lum Chang Holdings Limited announce its disposal of 4,750,000 ordinary shares in FirstOffice Pte Ltd, representing 5% of the total issued share capital at a Profit of S$6.3 million.

FirstOffice Pte Ltd is incorporated in Singapore with principal activity of owning and managing a 20-storey Grade A office tower known as Twenty Anson at 20 Anson Road.

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