KSH Wins $53.5m Contract

Source : The Business Times, 12 February 2008

KSH Holdings, a construction, property development and property management group, has secured a $53.5 million contract from Eurochem Corporation Pte Ltd at International Business Park.

With the latest project, the existing order book of the group's construction business stands at more than $505 million.

The contract to build the 13-storey building with a basement carpark was won by Kim Seng Heng Engineering Construction (Pte) Ltd, the group's wholly owned subsidiary in Singapore. The building will have a gross floor area of 25,057 sq m.

Construction work is scheduled to start this month and is expected to be completed within 18 months.

Said Choo Chee Onn, executive chairman and managing director of KSH: 'It is always our strategy to reach out to a new clientele base and maintain a wide job portfolio. Our portfolio spreads across multiple segments, including residential, industrial and commercial sectors. With this new project, we are able to maintain a good mix of building construction projects on hand.'

The project is the first construction contract secured by the group this year. In 2007, the group secured more than $510 million worth of construction contracts which included a mega shopping complex at Tampines Central 1 worth $86 million; a high-profile commercial and hotel development project at Collyer Quay from Hong Kong-listed property developer Sino Land worth about $120 million; industrial developments worth about $30 million; as well as a number of high-end residential developments of about $273 million in value.