Lum Chang Holdings has formed a joint venture with a subsidiary of a Taiwan-listed company, for a construction project.

The partner is L&K Engineering Co, (Singapore Branch), whose parent company was founded in 1978 and listed in Taiwan, with a focus on building pharmaceutical cleanrooms and high-tech semiconductor facilities.

According to Lum Chang, the JV is formed to carry out the civil, structural and architectural works for a project in North of Singapore.

Lum Chang will hold 30% and L&K will hold 70% of this JV.

Lum Chang shares closed at 45 cents on Aug 22, unchanged for the day but up 55.17% year to date.