Lian Beng clinched $64.4m Tampines land parcel

Lian Beng clinched $64.4m Tampines land parcel via its subsidiary Goldprime land.

Lian Beng’s 51% owned subsidiary, Goldprime Land Pte Ltd has been awarded the tender for a land parcel at Tampines North Drive 1, plot 1 at a purchase price of SGD64.4m.

Goldprime intends to develop the land parcel subject to all necessary approvals from the relevant authorities.

According to OSK DMG, Lian Beng currently has a strong cash position of $150.9m but ear term earnings catalysts aren’t expected to unlock value for the group.

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