Tiong Seng Holdings
New contracts worth $784m. In FY11, Tiong Seng increased its orderbook by a total of $784m, beating our forecast of $600m. The new contracts brought its outstanding orderbook to approximately $1.4b. They comprised high-profile contracts from both the private and the public sectors. The Housing and Development Board (HDB) has awarded Tiong Seng two of its most expensive projects to-date, Waterway Terraces I and II, with a combined contract value of $339m.
The company has also won the building contracts for private residential projects such as The Glyndebourne in Bukit Timah, The Luxurie in Sengkang and
The Archipelago at Bedok Reservoir.