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Koh Brothers clinches $51.9m HDB contract

Posted on 6 Oct 2009 | Comments Off

It’s the third project the construction firm has won from HDB so far this year

CONSTRUCTION company Koh Brothers Group Ltd has won a $51.9 million contract from the Housing and Development Board (HDB) for building works at Choa Chu Kang.

This contract takes Koh Brothers’ order book to $630.9 million. The job is not expected to have a material impact on the group’s financial performance for the year ending Dec 31, 2009.

Construction work on the project is slated to start this month, and is expected to be completed by end 2011. Under the contract, Koh Brothers will build four 16-storey residential blocks, one multi-storey car park and a substation for HDB.

This is the third contract that the construction firm has won from HDB so far this year, and takes the total value of contracts awarded to Koh Brothers from HDB to $255.4 million. In July, the company said that it was awarded the second part of an HDB contract to build Punggol Waterway after it won the the first part of the waterway construction in January. The Punggol Waterway is a 4.2km waterway that will be connected to Sungei Punggol. Continue reading →

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Low Keng Huat profits treble on building and gaming gains

Posted on 15 Sep 2009 | Comments Off

LOW Keng Huat’s second-quarter net profit more than tripled, thanks to its booming construction segment and higher contributions from its gaming centre operations.

The property and hospitality group yesterday posted net profit rising 264 per cent to $20.1 million for the three months ended July 31, up from $5.5 million during the same period last year.

Group turnover for the second quarter increased 133 per cent to $161 million, mainly due to gains from construction.

The rise came despite lower contributions from the hotel and food and beverage (F&B) business.

Revenues from development and investment were not significant, the firm said yesterday. The group’s current investments are in properties located mainly in Singapore and Malaysia, as well as some quoted equity investments.

Construction revenue, the firm’s largest contributor by industry, was up 177.6 per cent to $150.2 million for the second quarter, compared with the three months last year. Continue reading →