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by Cheryl Tay
Tiong Seng Holdings Limited has announced that Tiong Seng Contractors (Pte) Ltd, its wholly-owned subsidiary, has successfully acquired a contract worth approximately S$229 million from NTUC Fairprice Co-Operative Limited.
The contract involves the construction of a 16-storey single-user warehouse development at Benoi Road and Joo Koon Circle. The project will integrate a warehouse with an automatic storage retrieval system and ancillary office, as well as commercial uses and a bus interchange.
Tiong Seng noted that the new development is not expected to have a material impact on the Group’s net tangible assets and earnings per share for the FY ending 31 December 2012.
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