AFTER five years of rapid growth, Teambuild Construction is in consolidation mode - it's going back to the basics to ride out the downturn. But it's also laying the foundations for the next growth wave when the industry rebounds, by its reckoning, in one or two years. Managing director Seow Seng Wei expects a host of challenges in the coming year, including a drop in order book size and greater...
Construction
The construction business may have been hit by the recession, but some contractors are finding time to help those in need by making their home improvement dreams come true. This is part of the Renovation and Decoration Advisory Centre's outreach efforts to help those in need during these hard economic times. One family, the Lees, received renovation help for their three-room flat at Kim Keat...
Australian construction company McConnell Dowell has clinched the contract to build the Beauty World station at Stage 2 of the Downtown MRT Line. The Land Transport Authority (LTA) says the S$339.88 million project, scheduled to commence in the second quarter of the year, is targeted for completion in 2015. The Beauty World station is located along Upper Bukit Timah Road, off Jalan Jurong Kechil. It...
It may be a property buyers' market now, but the poor economy has brought woes to another segment of the housing industry. The business slump is turning contractors into casualties of the recession, forcing some to tout for business. Residents in Punggol have recently become the targets of touts. Several callers to Channel NewsAsia's news hotline said they had been approached by many contractors seeking...
Genting International is warning that its Sentosa integrated resort development could cost almost S$600m more than expected. Its total investment is expected to increase from S$6 billion to S$6.59 billion. And the firm warned that these hefty opening costs would have a "significant" impact on its earnings this year. Genting said that over the past year, changes have been made to the design and...
The Singapore government will implement more measures to stabilise the property market if needed. The assurance came from National Development Minister Mah Bow Tan in Parliament on Friday. Mr Mah said the government will go also go ahead with multi-billion dollars worth of infrastructural projects. Marina Bay, Singapore's new premier business district, is taking shape. So far, the government has...
Construction firm Koh Brothers has won a contract to build the first part of the Punggol Waterway in Punggol Town. The contract, which is awarded by the Housing and Development Board (HDB), is worth S$144.6 million. Under the deal, Koh Brothers will build a 2.4-kilometre waterway and its related engineering works in Punggol Town. The waterway, which will have a promenade on both banks, will be connected...
Mah provides sneak peek of revived projects to be announced on Budget Day MORE deals up for grabs, less money required upfront and subsidised courses to groom local talent these are some of the initiatives that small-time construction firms can keep their eyes peeled for come Budget Day next week. The sneak peek, provided yesterday by National Development Minister Mah Bow Tan, brought cheer to struggling...
The Singapore government will roll out public sector projects worth up to S$50 million each from the middle of this year. It had earlier deferred projects amounting to S$4.7 billion to ease pressure on the construction sector. The government said the upcoming projects are expected to attract small and medium-sized contractors. National Development Minister Mah Bow Tan said: "The big contractors have...
Singapore-listed construction firm Lian Beng has posted a nine per cent increase in its first half net profit. Net earnings for the six months ended November rose to S$8.8 million from S$8.1 million a year ago. This was on the back of a 42 per cent jump in revenues to S$151 million on progress made in various construction projects. Lian Beng said demand for construction services has softened amid the...