21 August 2012 Tiong Seng awarded $137 million contract to build Phase 2 of SIM HQ's campus extension
SGX Mainboard-listed construction group Tiong Seng Holdings Limited (長成控股) today announced that its subsidiary, Tiong Seng Contractors (Pte) Ltd, has won a tender for a campus extension project worth S$137 million from Singapore Institute of Management ("SIM"). This project constitutes Phase 2 of SIM's $300-million ‘Campus Development Master Plan' aimed at doubling the size of its campus by 2014 in order to cater to its growing student population. SIM is currently Singapore's largest private tertiary institution in terms of total campus size and student enrolment. Under the terms of the contract, Tiong Seng will build a four-storey Multi-Purpose Hall, a nine-storey extension to Linear Building, the construction of two levels of basement carparks, as well as addition and alteration works to the existing SIM HQ campus building. The entire project will commence in August 2012. When completed, the project will add 35,500 sqm in Gross Floor Area to the existing SIM HQ campus building. Said Mr Pek Lian Guan (白連源), CEO of Tiong Seng Holdings Limited: "This is an exciting yet challenging project because it involves construction of new buildings attached to existing buildings in a well-populated student campus. It will require meticulous planning. We also plan to adopt new technologies which will help us achieve the target standards in green construction, buildability and construction excellence." This will be one project where Tiong Seng plans to adopt its proprietary patented Cobiax technology which reduces concrete usage, yet increases green buildability substantially. The use of the Cobiax construction technology will mean that there will be fewer beams and higher headroom.
Strong Order Book Capitalising on its ability to handle a diverse range of projects across different industries, Tiong Seng has again proved its mettle with this contract win in this segment. This will boost the Group's order book to S$1.43 billion to be fulfilled over the next 12 to 30 months.
About Tiong Seng Holdings Tiong Seng is principally engaged in building construction and civil engineering in Singapore, and property development in the PRC. With an established track record of over 50 years, Tiong Seng is one of the leading building construction and civil engineering contractors in Singapore. It holds the highest grading of A1 from the Building Construction Authority of Singapore (BCA) for both general building and civil engineering, which qualifies the Group to undertake public sector construction projects with unlimited contract value. Tiong Seng's property development business focuses on developing residential and commercial projects in various second- and third-tier cities in the PRC. The Group has successfully developed properties in Tianjin, Suzhou and Yangzhou and it currently has four on-going projects in the Bohai Economic Rim, which is one of the main economic zones in the PRC. |
• The project, which will commence in August 2012, comprises extensions to SIM's existing Linear Building and Multi-Purpose Sports Hall