Source : The Business Times, 29 November 2007
CONSTRUCTION company KSH Holdings has secured two contracts from the Ho Bee Group worth more than $118 million to build high-end residences at Sentosa Cove and Orange Grove.
The deals take the value of construction contracts secured by KSH this year to $512.8 million. The company's order book now stands at a record $498 million.
One of the new contracts, worth about $64.8 million, is for Ho Bee's Turquoise @ Sentosa Cove condominium and showflat. Work will start in February 2008 and be completed within 26 months.
The contract takes the total value of KSH's projects at Sentosa Cove to more than $292.8 million. Besides Turquoise @ Sentosa Cove, it is building Ho Bee's The Coast @ Sentosa Cove.
The other contract announced yesterday is for The Orange Grove in Stevens Road. The contract value is about $53.2 million.
The development will have 72 units with attics. Work is scheduled to start this month and be completed in 28 months.
Related link: http://tinyurl.com/2dk83n
KSH's news release
KSH chairman and managing director Choo Chee Onn said that his company has had a strong working relationship with Ho Bee since November 2000.
'With our solid track record of high-profile construction projects, we are confident of benefiting from the construction boom and achieving even greater heights,' he said.
KSH was listed on the Singapore Exchange in February at 36 cents a share but its stock closed at 94 cents yesterday - a jump of about 160 per cent.
On Tuesday, the company proposed a one-into-two stock split to improve the liquidity of the shares and enhance their affordability.
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