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Tiong Seng bags S$47.68m MOH contract to build 10-storey polyclinic and care facility
CONSTRUCTION and property developer Tiong Seng Holdings announced on Monday that it has bagged a S$47.68 million contract with the Ministry of Health to build a 10-storey polyclinic and long-term care facility at Balestier and Serangoon Roads.
Construction will commence in June 2018, using the company's in-house "prefabricated pre-finished volumetric construction" (PPVC) building techniques.
The project will swell Tiong Seng's order book to some S$641.7 million to 2020, the group said.
"Our PPVC capabilities, backed by our continuous investment in construction technologies, have positioned us as a market leader in the construction sector and a preferred forward-looking contractor," said Tiong Seng's chief executive Pek Lian Guan.
"Looking ahead, we are confident in capturing prevailing market opportunities amid the rising demand for new construction projects in Singapore," he added.
The group will continue to look for new public and private projects which will further "strengthen our order book and enhance long-term shareholder value", Mr Pek said.
The group's counter fell 1.24 per cent to close at S$0.40 on Monday.