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Ley Choon unit awarded S$35.3m PUB contract

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Singapore listed Ley Choon Group Holdings said on Tuesday its subsidiary, Teacly (S) Pte Ltd, has been awarded a Public Utilities Board (PUB) contract worth S$35.3 million.

SINGAPORE-LISTED Ley Choon Group Holdings said on Tuesday its subsidiary, Teacly (S) Pte Ltd, has been awarded a Public Utilities Board (PUB) contract worth S$35.3 million.

The contract involves the laying and installation of about 2km length of a 2.2-metre diameter potable water transmission steel pipeline from Murnane Service Reservoir at Jalan Kampong Chantek to Pan Island Expressway/Rifle Range Road.

When completed, this new pipeline line will improve the flow and pressure of water supply servicing residents, the group said.

Toh Choo Huat, executive chairman and CEO of Ley Choon, said PUB has been the group's client for more than 26 years.

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With this contract win, the group's unfulfilled order book based on secured contracts rose to S$172 million, keeping it busy with projects for the next two to three years.

"We aim to continue to leverage on our expertise in pipe-jacking and micro-tunnelling to tender for more pipe laying projects to strengthen our order book further," Mr Toh said.

To ensure long-term business sustainability, the group started a debt restructuring exercise in mid-2015.

It is also divesting some non-core assets so as to focus on the core business, said Mr Toh.

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