Hong Leong Asia's shares closed 1.9 percent higher at S$2.65 on Monday after the company agreed to sell its building materials business to Malaysian cement maker Tasek Corp for S$323.5m in an all-share deal. Tasek said in a filing to the Kuala Lumpur Stock Exchange that it will issue 212.2 million shares at S$1.52 each to pay for the business. It also proposed to return to shareholders a special net...
Construction
A 30-year-old Malaysian worker died in an industrial accident on Pulau Ular, south of Singapore, on Saturday. The accident occurred at the Shell Eastern Petroleum's construction site for a petrochemical cracker which is part of a refinery. Police said they received a call at 11am on Saturday. On arrival, they found the body of the worker from Sarawak on the ground near a boom lift. The worker was...
Structural steel contractor and engineering solutions provider Yongnam Holdings will form a 70-30 percent joint venture with KTC Civil Engineering and Construction to work on a Marina Bay Sands project. They have secured an S$81.4 million contract for temporary decking, steel waling and excavation works at the South Podium of the Marina Bay Sands integrated resort. The South Podium area will include...
Resorts World at Sentosa has awarded its largest building contract to date, worth S$1.05 billion, to a joint venture between major Japanese contractor Kajima Overseas Asia Pte. Ltd. and local player Tiong Seng Contractors (Pte) Ltd. This brings the total building contracts awarded so far to over S$2 billion. The S$6 billion integrated resort is slated for completion in early 2010. Kajima-Tiong Seng will...
Construction and property developer KSH Holdings has secured a S$126.8 million contract to build a condominium development at Singapore's Sentosa Cove. The contract is the first of its kind to be awarded by Lippo Marina Collection for the construction of a luxury housing development at the site. This will be the group's fifth high-end luxury residential property project at Sentosa cove. The deal will bring...
The government will be calling S$8 billion worth of tenders in its financial year 2008. Of these, about S$5.8 billion will involve building and construction projects which are proceeding as planned. These include projects to improve traffic on the Central Expressway as well as the Gardens by the Bay projects which will keep the Marina Bay area development on schedule. Other projects valued at S$3 billion...
Construction of Singapore’s first Hard Rock Hotel which will be located at the upcoming Resorts World at Sentosa will begin in May. The 360-room hotel is one of six to be developed and fans and visitors will be grooving to it when the famous chain opens in 2010. Together, the hotels will provide 1,800 rooms but this might still not be enough. Elena Arabadjieva, Deputy Vice-President, Resort Marketing,...
The number of deaths at the workplace went down by 22 per cent in 2007, compared to the previous year. This is according to a report released by the Workplace Safety and Health Advisory Committee. Despite the drop, industry players caution that the boom in the construction industry may mean more workplace-related accidents. When the crane tower collapsed at the National University of Singapore last month,...
The wait for shower facilities and more carpark spaces at MacRitchie Reservoir — the first phase of which was scheduled for completion the end of this month — has just gotten longer. According to the PUB, the construction work for the $5-million makeover would be delayed for at least another nine months after the construction work on the carpark "has virtually stopped in the last two...
KSH Holdings has secured a S$121 million contract to construct luxury condominium development Seascape at Sentosa Cove. This project puts its order book at more than S$614 million. The contract was signed by the construction, property development and management group's subsidiary Kim Seng Heng Engineering Construction. The deal was awarded by Seaview, a company co-owned by Ho Bee Investment and IOI Land...