Lum Chang Holdings Limited today announced the incorporation of Kelaty Leaseco Limited (“KLL”), a wholly-owned subsidiary in Jersey, Channel Islands. KLL’s principal activity will be of a property development project at Kelaty House.
Lum Chang Holdings Limited also announced the incorporation of Lum Chang Development Services Limted (“LCDS”), a wholly-owned subsidiary in the United Kingdom. LCDS’s principal activity will be to provide development services for development property projects at Kelaty House.
LCBC has secured a tender for the construction of a high-specification industrial building located at the junction of Boon Keng Road and Kallang Place. The contract valued at $60.8 million was awarded by DBS Trustee Limited as Trustee of Mapletree Industrial Trust.
The scope of work for the project includes the construction of a fourteen-storey multi-user high-specification building with two-storey carpark. Construction works, including upgrading works for three existing buildings, commenced in August 2016 and will be carried out in seven phases. The project is slated for completion in February 2018.
The Group signed an agreement with Tien Wah Properties Sdn Bhd to jointly acquire and develop land at Petaling Jaya in Kuala Lumpur, Malaysia.
The leasehold industrial land measures approximately 13,040 square metres and the joint venture partners intend to develop a mix-use commercial property.