TA Corporation unit secures S$94m contract to build education institute

TA Corporation Ltd said on Tuesday that its wholly-owned subsidiary, Tiong Aik Construction Pte Ltd, has been awarded the contract for the proposed educational institution building at Dairy Farm Road, Dairy Farm Heights and Dairy Farm Lane by German European School Singapore for a contract sum of S$94 million.

The contract period is 25 months and work is scheduled to commence by Feb 15. This contract is not expected to have any material impact on the consolidated earnings per share and net tangible assets per share of the group for the current financial year ending Dec 31.

Including the latest contract win, the order book for the group's construction business stands at approximately S$300 million, and will be progressively recognised over the next three years.

"We are starting the new year on a strong note, and remain sanguine on opportunities within the Singapore construction industry," said Neo Tiam Boon, CEO and executive director of TA Corporation. "Backed by our construction expertise and a proven track record built up over four decades, the group is well-positioned to capture growth opportunities."

TA Corporation is a building contractor with a BCA grading of A1 (unlimited tender ceiling) for general building, and has been involved in a variety of specialised construction projects, spanning residential, commercial, industrial, hotels, education institutions and public housing. Some of its notable projects in the education space include the iconic School of the Arts (SOTA) and the Singapore American School.