Wednesday, September 3, 2008

Chip Eng Seng Wins Third HDB Job This Year

Source : The Business Times, September 3, 2008

Company's order book hits $843m with latest contract worth $156m

CONSTRUCTION and property group Chip Eng Seng has won a $156 million design and build contract for Housing and Development Board (HDB) flats at Punggol West - its third HDB contract this year.

The latest win, through wholly owned Chip Eng Seng Contractors (1988), takes its order book to $843 million, from $687 million at end-June.

In a statement yesterday, Chip Eng Seng said the contract involves the design and construction of residential buildings with parking and community facilities. It said preparation and design work and obtaining approvals will take seven months from this month.

Construction phase is expected to take 30 months.

Chip Eng Seng executive chairman Lim Tiam Seng said: 'With the enlarged order book, we will be kept busy through to 2011.'

Chip Eng Seng won $123.5 million and $188 million HDB contracts in June and January respectively this year. The $123.5 million contract is for building five 25-storey blocks of flats with a total of 698 units in Sengkang.

The $188 million contract is for building 1,394 HDB flats in Queenstown. Chip Eng Seng is currently undertaking two other HDB projects - one at Sembawang and the other called Pinnacle@Duxton.

Chip Eng Seng Contractors (1988) is registered with the Building and Construction Authority of Singapore as an A1 general builder - the highest classification, which allows it to tender for public sector projects of unlimited value.

The group's development arm CEL Development has projects in Singapore and Vietnam.

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