Chip Eng Seng reports H1 net profit of S$47.2m
Construction and property firm Chip Eng Seng on Friday said its first-half net profit rose 76.1 per cent on-year to S$47.2 million. This is on the back of a 53 per cent on-year increase in revenue to S$225 million. Meanwhile, for the second quarter ended June, its profit increased 55.5 per cent on-year to S$22.4 … Read more
Wee Hur Holdings’ H1 net profit up 19% to S$10.4m
onstruction firm Wee Hur Holdings on Friday said its first-half net profit rose 19 per cent on-year to S$10.4 million. This is despite revenue for the period falling 41 per cent to S$63.4 million. Wee Hur said revenue declined as new major construction projects are still in their early stages of work in progress and … Read more
Lian Beng clinches contract for The Scala condo at Serangoon
Homegrown building construction company Lian Beng has clinched a S$119.5 million contract to build The Scala – a 99-year leasehold condominium development located at Serangoon Avenue 3. The contract was awarded by the Hong Leong Group and covers the construction of five 17- to 18-storey blocks. It also covers the construction of podium and basement … Read more
Construction costs may rise up to 6% next year due to new regulations
Construction costs in Singapore may increase by up to six per cent next year when new government regulations to restrict foreign workers kick in. According to the new Real Estate Sentiment Index, rising land prices and construction costs are some of the top concerns among developers. New rules that will kick in this month include … Read more
Lian Beng reports full-year profit of S$24m
Homegrown building construction company Lian Beng has reported a profit of S$24 million for the full year ended May. This was a 41.3 per cent increase compared to the same period a year ago. The company said this was driven by strong performance across the construction, property development and ready-mixed concrete divisions. Revenue for the … Read more
Lian Beng wins S$88m contract from UOL Development
Construction company Lian Beng has clinched a S$88 million contract to build a condominium development at Spottiswoode Park Road. Awarded by UOL Development, the contract will cover the construction of a 36-storey residential tower, and other ancillary facilities. This marks the Group’s fourth building contract from the private residential sector since March. This latest contract … Read more
New guide on green practices for construction industry launched
A new guide on best green practices for the construction industry has been launched Tuesday. The manual, called the “Green and Gracious Builder Guide”, provides information on innovative green solutions. Such solutions and technologies help to support the industry in the adoption of sustainable green practices. Launching the guide Tuesday, Senior Minister of State for … Read more
Tiong Seng seals S$146m deal to build environmentally-friendly condominium
Mainboard-listed Tiong Seng Holdings says its unit, Tiong Seng Contractors, has secured a S$146 million contract to design and build an environmentally-friendly condominium. The contract for the condo, called Tree House, was awarded by Chestnut Avenue, a joint venture between City Developments and Hong Realty. The 429-unit condominium project is located on Chestnut Avenue, off … Read more
Tiong Seng in Tianjin Eco-City joint venture
Singapore construction firm Tiong Seng Holdings has signed a deal to jointly develop up to three plots of land in Tianjin Eco-City. It will be working with the property’s master developer, Sino-Singapore Tianjin Eco-City Investment and Development Co, and Japanese firm Mitsui Fudosan Residential Company. The joint venture deal is worth 4.5 billion renminbi. Tiong … Read more
Koh Brothers Q1 net profit rose 47% on year to S$2.8m
Mainboard listed Koh Brothers says its first quarter net profit rose 47 per cent on year to S$2.8 million. Revenue increased 39 per cent to S$84.8 million compared to the same period last year. The group says this was on the back of improved performance from its Construction and Building Materials divisions. Looking ahead, group … Read more
