S’pore to restart deferred public works projects
The Government will bring back some of the smaller public sector projects of up to $50 million that were deferred earlier and advance other suitable new projects in the pipeline to help the construction industry ride out the current economic crisis. National Development Minister Mah Bow Tan announced the advancement of public sector projects at … Read more
S’pore construction deals hit record high in 2008, sees weaker 2009
The total value of building and construction contracts hit a record high of $34.6 billion in 2008 driven by private sector demand in the first half of the year as well as public sector infrastructure projects awarded in the last quarter. Projections for 2009 are, however, lower with construction demand likely to moderate to between … Read more
Design Studio closes 2008 with $195m in order book
Having successfully secured new orders in Singapore, the Middle East and Thailand, Design Studio Furniture Manufacturer closed 2008 with an order book of $195 million. Projects include the supply of joinery products such as sliding doors for guest rooms and suites in Hotel Tower 1 of the Marina Bay Sands Integrated Resort, as well as … Read more
Koh Brothers aims for $137 mln contracts for ’09
Singapore construction firm Koh Brothers said on Wednesday it is targeting at least S$137 million (US$92.19 million) worth of contracts this year, as the government plans infrastructure projects to help the economy. Koh Brothers CEO Francis Koh said the company will tender for projects such as a subway line, schools and public housing. ‘Based on … Read more
Tuan Sing will report loss for Q408
Tuan Sing Holdings Limited said on Wednesday that it will report a loss for the quarter ended December 31, 2008. The loss for the 4Q 2008 is attributable mainly to the group incurring a non-cash fair value loss on certain of its investment properties in Singapore when the annual end-of-year valuation exercises were performed. Property … Read more
Singapore to roll out public sector projects worth up to S$50m each
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 … Read more
CapitaLand reduces electricity and water consumption, saves some S$1.5m
Real estate giant CapitaLand saved some S$1.5 million last year by reducing its electricity and water consumption. The green efforts were carried out across 23 properties such as its retail malls and office buildings. The amount of electricity saved can power about 13,000 five-room HDB flats for one month, while the amount of water saved … Read more
UOL offers to take over UIC for S$1.20 a share
Mainboard-listed UOL Group has made a takeover bid for United Industrial Corp (UIC). UOL is paying S$1.20 per share – valuing UIC at S$1.6 billion. The move comes after UOL’s shareholding in UIC crossed the 30 per cent mark. Under listing rules, this means it has to make a general offer for the remaining shares. … Read more
Harder knock seen for property prices
Citigroup, Goldman downgrade most of real estate stocks covered to ’sell’ EXPECTING the ‘worst recession in Singapore’s history’, Citigroup now believes that property prices could fall even lower than forecast so far. It also recommends a ’sell’ for property stocks covered (save one), saying that while these have recovered 30 per cent from 2008 lows, … Read more
Ex-school site in Race Course Road attracts healthy interest
TWENTY bids from 14 bidders have been received for the former Mee Toh School in Race Course Road – offered for rent under the Ideas Tender scheme – the Singapore Land Authority (SLA) said yesterday. The Ideas Tender scheme aims to encourage innovative use of state property, instead of restricting it to pre-approved uses. The … Read more
