SINGAPORE (May 10): Tiong Seng announced that its wholly-owned subsidiary, Tiong Seng Contractors, has been awarded a contract of about $53.9 million from the Ministry of Education of Singapore (MOE) for the proposed erection of new primary school along Punggol Central / Punggol Way.
Expected to commence construction work in May 2018, this is the group’s second contract to build a primary school from MOE.
To recap, the group on May 3 won a $49.9 million contract from the MOE to build a primary school in Puggol Way, which construction is expected to begin this month.
See: Tiong Seng wins $49.9 mil contract to build new primary school in Punggol
Including this contact win, the group’s construction order book size will increase to about $594.0 million extending to 2020.
Pek Lian Guan, CEO of Tiong Seng says, “Following our second contract win awarded by MOE, we are delighted to note that our unwavering commitment to developing and utilising our advanced construction methods, such as the Design for Manufacturing & Assembly (DfMA) concept that encompasses PPVC technologies, has begun to bear fruit.”
“With the intention of boosting productivity in the construction and facilities management industries, the Singapore government announced the potential of another 59 DfMA projects that could be tendered out in 2018. The target to achieve 40.0% adoption of DfMA in the construction industry, up from the current 10.0%, is expected to benefit us significantly in terms of capturing public sector projects such as government land sales sites where suitable,” adds Pek.
Shares in Tiong Seng closed at 40 cents on Thursday.
