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Wee Hur wins $96 mil HDB project

Stanislaus Jude Chan
Updated

SINGAPORE (July 1): Property group Wee Hur Holdings announced Monday that its wholly-owned subsidiary, Wee Hur Construction, has secured a new project worth $96 million from the Housing and Development Board (HDB).

The project will see the group involved in building and contingency works for 630 residential units in Geylang.

The project will commence this month, and is expected to complete by 4Q22.

Wee Hur says the project is not expected to have a material impact on the group’s consolidated net tangible assets per share and consolidated earnings per share for the financial year ending Dec 31, 2019.

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As at Mar 31, 2019, the group’s construction order book stood at approximately $189.82 million.

Wee Hur in April also announced the award of two new construction projects from the Ministry of Health and HDB, worth $34.3 million and $30.6 million respectively.

Shares in Wee Hur closed 2.4% higher at 21.5 cents on Monday, before the announcement.