CONSTRUCTION company Koh Brothers Group has clinched a $58.9 million contract from the Housing and Development Board (HDB) to build the second part of Punggol Waterway – a 4.2km waterway that will be connected to Sungei Punggol.
In January, Koh Brothers won a $144.6 million contract from the HDB for the construction of the first part of the waterway.
The latest contract brings Koh Brothers’ order book to more than $579 million.
Construction of the second part of the waterway is set to start this month and is expected to be completed by the end of next year. Other ancillary works are expected to be completed by the fourth quarter of 2011.
The latest deal is not expected to have a positive material impact on the group’s financial performance for the year ending Dec 31, 2009.
Chief executive Francis Koh said that the company will continue to pursue public infrastructure and government building projects over private construction projects.
‘Our past record shows that public projects carry more certainty in terms of payment compared with private projects,’ said Mr Koh. Continue reading
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