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Plugging gaps

Monday, April 4, 2016 - 05:50

SURBANA Jurong CEO Wong Heang Fine believes that one of his key tasks as a leader is to acquire the talent and skillsets that the company needs to meet its goals. This means not just identifying potential talent to hire but also acquisition targets.

Over the past year, the company has made a number of acquisitions to beef up its offerings. In June 2015, it acquired two companies - KTP Consultants in Singapore and Sino-Sun Architects & Engineers Co in China. These acquisitions will expand its staff strength by 25 per cent, strengthen its infrastructure development capabilities and bring its market reach in China to 16 cities, the company said.

It also announced in November 2015 that it would be taking a 20 per cent equity stake in China's CITICC (Africa) Holding, a US$300 million investment platform set up between International Financing Company, a member of the World Bank Group, and Chinese multinational construction and engineering company CITIC Construction Co. Through this deal, Surbana Jurong could potentially develop 30,000 affordable homes in Africa in the next five years, it said.

The group also took up an 8.4 per cent stake worth US$9.25 million in an American software company, FLUX Factory Inc, a spin-off from Google X, which builds collaborative cloud-based software tools used for building design, urban solutions and master planning, which it says will grow the company's sustainable and building design capabilities.

sentifi.com

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