Mainboard-listed construction firm Lian Beng Group on Tuesday said its half year net earnings rose 28 per cent to S$11.4 million from a year earlier. This was on the back of a 4 per cent rise in revenue to S$157.6 million for the six months ended November. Lian Beng said the top-line growth was driven by revenue recognition on progress made in the construction of various projects. These include the Ritz...
Construction
The construction sector around the world is likely to pick up in 2010 in tandem with the recovering global economy. Accoring to KPMG's 2009 Global Construction Survey, 64 per cent of respondents expect to either increase or maintain profits by next year. The survey sought the view of top management of more than 100 of the world's leading engineering and construction companies. The outlook for the...
Property developer and construction firm Low Keng Huat on Friday said its third-quarter net profit rose 28 per cent on-year to S$16.6 million. Revenue for the three months ended October 31 almost quadrupled to S$205 million, thanks mainly to significant increases in its construction revenue. Its third-quarter construction revenue had jumped more than four-fold year-on-year, due to completions of two...
Mainboard-listed construction firm, Sim Lian Group, said that its first quarter net profit rose 23 percent from a year ago to S$27.6 million. Revenue for the three months ended September edged up 2 percent to S$194.4 million. Sim Lian said that its contract costs fell S$4.6 million despite an increase in revenue in the quarter. This was mainly due to a revision of contract costs for a development...
Construction and property development firm, KSH Holdings, has clinched a new contract worth S$36 million. It is for the construction of Watten Residences, a luxury 59-unit freehold development in the Bukit Timah area. Under the terms, the company will start construction works next week and it is expected to complete the project within 25 months. With the contract, KSH says its existing order book now...
Building construction group Lian Beng has reported a 168% surge in profit after tax to $5.4 million for the first quarter of its 2010 financial year, compared to $2 million a year ago. This was achieved on the back of a 128.6% rise in revenue to $85.1 million. Lian Beng says the growth in revenue was driven by revenue recognition from the completion of projects like Ferraria Park, Sixth Avenue Condominium...
Construction firm Lian Beng has clinched a contract worth S$101 million to build a residential project at Bedok Reservoir called Waterfront Key. The contract was awarded by FCL Peak, a joint venture between Frasers Centerpoint and Far East Organization. It covers the construction of about 440 apartment units in eight blocks, together with a basement car park, swimming pool and other facilities. Work on...
Steel contractor and civil engineering firm Yongnam said it has won a contract, worth nearly S$39 million for the Marina Bay Sands Integrated Resort. Under the terms of the deal, Yongnam will supply and construct structural steelworks required to support the roof and facade of the North Crystal and South Crystal Pavillions. Both Pavillions are located in the waters of the Marina Bay Reservoirs, a stone's...
Mainboard-listed BBR Holdings has secured a S$104.2-million contract from Singapore's Housing & Development Board (HDB) to build seven blocks of flats in Yishun Neighbourhood 4. This is the company's first HDB contract and work is expected to begin next month. The project will be carried out in 10 phases and is expected to complete by 2012. The work comprises 864 homes, a Child Care Centre, a roof...
Contractors in Singapore need to look beyond the country for businesses. Despite the increasingly positive outlook for private sector construction projects, the Singapore Contractors Association said that local firms should tap into opportunities in the region. According to a forecast from the Building and Construction Authority earlier this year, demand for projects in 2009 will come in at between S$20...