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SINGAPORE : KSH Holdings\' unit secures $506million construction contract
Publish Date : 14-Feb-2012
KSH Holdings Limited on Monday announced that its wholly-owned subsidiary, Kim Seng Heng Engineering Construction (Pte) Ltd, has secured a letter of intent from Unique Development Pte Ltd for the construction of The Boutiq.
The Boutiq is a freehold development located near Somerset MRT station. Under the contract, KSH will be building two 10-storey apartment blocks with a total of 130 units, as well as a basement carpark and swimming pool.
The contract period is for a period of 21 months.
The project, worth $53.3 million, will bring the order book of the group\'s construction business to approximately $506 million.
The Boutiq project will not have a material financial impact on the financial year ending March 31, 2012.
The company posted a 64 per cent decline in profits for the third quarter ended Dec 31 to $2.91 million from $8.09 million a year ago.
Unique Development is a joint venture between Heeton Homes Pte Ltd, Kim Seng Heng Realty Pte Ltd and Tee Realty Pte Ltd.
