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Malaysia Building & Construction Industry News

 

CapitaLand offloads The Nassim

 
Singapore CAPITALAND on Monday said it has sold its 100 per cent stake in Nassim Hill Realty (NHR) to an unrelated private company, Kheng Leong, for S$411.6 million. Included in the sale are also 45 unsold units in The Nassim, a luxury freehold boutique condominium project in Nassim Hill which has sold only 10 units since 2015. CapitaLand said it is doing this to avoid paying extension charges which would kick in from August 2017. NHR, which developed The Nassim, is subject to the qualifying cer ...more
 

Chip Eng Seng looks poised for take-off

 
IN a property market where heavyweights such as CapitaLand and City Developments are in the limelight, a relatively small company like Chip Eng Seng Corporation appears to have escaped the attention of most analysts. Although earnings in recent years have varied - from as low as S$57.2 million in 2015 to as high as S$280.7 million in 2014 - the group has been quietly putting its chess pieces in play and is worth a closer look. Chip Eng Seng has come a long way from its humble beginning in the 19 ...more
 

Developers to keep playing quantum price game this year

 
Singapore DEVELOPERS sold 8,136 private homes last year, up 9.4 per cent from the 7,440 units they moved in the previous year - and the best showing in three years. The pick-up is a reflection of improved sentiment and demand, say analysts. The executive condo (EC) market posted even more spectacular sales growth. Preliminary government numbers show that developers found buyers for 4,018 EC units last year - up 57.6 per cent from the 2,550 units in 2015 and a four-year high. Realistic pricing by ...more
 

Local composites industry to get a lift

 
Singapore SINGAPORE will be the manufacturing base for the world's first lift made of composite materials such as fibreglass and carbon fibre-reinforced polymers. The elevators will be 10 times lighter than a normal lift of the same capacity. Its relative lightness - 150kg compared to a 1,500kg traditional lift of the same capacity - means this lift does not need a counterweight to help its motor move the lift. Counterweights can take up to a third of the space in a lift shaft. The composite lif ...more
 

Boustead Projects secures contract for R&D centre

 
Singapore INDUSTRIAL real estate solutions provider, Boustead Projects, announced yesterday that its co-investment partnership, the Boustead Development Partnership (BDP), has secured a development contract for a new research and development (R&D) centre. The centre, referred to as Continental Building Phase 3, will be developed for Continental Automotive Singapore - an R&D hub owned by global automotive supplier Continental Corporation. Boustead Projects said in its announcement that Continenta ...more
 

Construction trade body hands government its first-ever Budget wish list

 
Singapore WARY of intensifying pressures on the construction sector in the near future, the sector's representative trade body has submitted its Budget wish list for the first time to the Finance Ministry (MOF). The almost 3,000-member strong Singapore Contractors Association (SCAL) had handed the list over last month, hoping for fiscal support measures to give the sector more time - and room - to defray costs. It also asked for more support to help construction firms reposition themselves for t ...more
 

ISOTeam bags S$22.7m worth of new projects

 
Singapore CATALIST-LISTED building maintenance firm ISOTeam on Tuesday announced that it has secured S$22.7 million worth of new projects in the new year. The new contracts - a mix of R&R (repairs and redecoration) and A&A (addition and alteration) projects - are expected to be completed between January this year and June 2018. They also include a renewable energy installation job which is worth about S$6.3 million - ISOTeam's third such project and single largest project won to-date. It involve ...more
 

Surprisingly bullish bids swamp year's first housing land tender

 
Singapore BULLISH bids poured in for the first tender closing of 2017. But property consultants can't decide among themselves if it is a sign of market optimism or developers' need for work. Construction company Low Keng Huat beat 10 other competitors with its unexpectedly bullish bid for a residential site along Perumal Road which comes with first-storey commercial space. At a tendered sale price of S$174.08 million, it translates to S$1,000.72 per square foot per plot ratio (psf ppr), greatly ...more
 
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