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More Singapore contractors, consultants securing overseas projects: survey
MORE Singapore contractors and consultants are venturing overseas and securing projects there, based on the latest construction export survey released by the Building and Construction Authority (BCA) on Wednesday.
They secured 594 overseas projects in 2015 compared to 289 projects in 2014 (see amendment note). A total of 38 contractors and 62 consultancy firms secured projects in 2015, compared to 22 contractors and 26 consultancy firms in the preceding year.
In 2015, S$1.74 billion of contract value was secured in overseas markets, which included Myanmar, India, Malaysia, Thailand, Indonesia, and the UAE.
Despite the increase in the number of construction projects secured overseas, the total value of overseas contracts remained stable, indicating that projects secured in 2015 were mainly of smaller value than those in 2014, it said.
BCA surveyed more than 1,400 Singapore construction and consultancy firms for its Construction Export Survey 2016, which is now into its 13th edition.
Amendment note: An earlier version of this story incorrectly said that Singapore contractors and consultants secured 282 overseas projects in 2015, compared to 152 projects in 2014. BCA has since corrected its numbers and said that Singapore contractors and consultants secured 594 overseas projects in 2015, compared to 289 projects in 2014. The article above has been revised to reflect this.