Tiong Seng saw its earnings double to $30.9 million for the FY17 ended December from $15.3 million in FY16.
SINGAPORE (Apr 10): CIMB Research believes property developer and construction group Tiong Seng Holdings could see improving profitability from its construction business on the back of its early adoption of prefab technology.
“The company had started building its own prefabricated prefinished volumetric construction (PPVC) capabilities in 2014 and reported significant cost savings in FY17 in terms of labour and faster time to project completion with PPVC adoption,” says analyst Colin Tan in an unrated report on Monday.
