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...
Construction
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...
Mainboard-listed property firm Sim Lian Group said its full year net profit fell 12 per cent to S$38.7 million from a year earlier. The drop in profit was mainly a result of allowances for a foreseeable loss in a development project and a decline in fair values of investment properties. Revenue for the financial year ended June rose 48 per cent to S$575.5 million, mainly due to higher revenue from its...
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...
Mainboard-listed construction firm Lian Beng Group said Wednesday its full year net earnings rose 43 per cent from a year earlier to S$17 million. This was on the back of a 58 per cent jump in revenue to S$308.4 million for the financial year ended May. Lian Beng said its business activity level remained high despite generally softer market conditions. The company secured five construction projects...
Homegrown building construction group Lian Beng has posted a 43.3% gain in net profit to $17.2 million for the financial year ended May 31 (FY09), compared to $12 million in FY08. The record profit was achieved on the back of a 58.3% jump in revenue to $308.4 million, from $194.8 million in FY08. Lian Beng says its construction division remained its key growth driver, contributing the bulk of total...
The opening of Singapore's first casino has been put back several months due to shortages of labour and materials, the chairman of developer Las Vegas Sands said Wednesday. Sheldon Adelson said Marina Bay Sands will open early next year for its initial phase, after being originally slotted to welcome its first visitors by the end of this year. "The opening date we seriously anticipate will be in January...