Sentosa Property | Lush Dream Home

A NEWCOMER seems to be shaking things up at construction firm Koon Holdings as the company prepares to diversify and deepen its businesses. Tan Thiam Hee, who has been CEO since July last year, has been busy integrating the different units of the holding group, with the aim of leveraging their respective strengths for bigger projects.

‘When I came in we weren’t maximising what we had,’ says Mr Tan, who is a certified accountant. ‘So I put a challenge to my managers: ‘This is what we are doing now. How are you going to do more’?’

Competitive advantage

The challenge arose because he realised Koon may no longer be able to compete for open tender contracts based on cost alone. The company’s latest annual financial results are telling. 2008 profit after tax was $1.97 million – down from $6.18 million in 2007. The bright spark is the firm’s $172 million Continue reading →

Plans for another resort on Singapore’s Sentosa shelved

Posted on 12 Aug 2009 | Comments Off

The recreational arm of the National Trades Union Congress of Singapore, NTUC Club, has announced the cancellation of its plans for a 200-key resort on Sentosa Island due to the high construction costs and land costs.

The development, which was planned to be located within a three-hectare site, was initially budgeted to cost approximately US$31 million.

Scheduled to be reviewed for future development, the site was previously not under any sale or lease agreement with NTUC Club.

The landlord, Sentosa Development Corporation, has announced that the site has been earmarked for sports and recreational use.

Source : Hoteliers – 12 August 2009