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Yesterday's (4Jan11) press release on Tiong Seng's new $26.0m Prefab Hub project makes very interesting reading.....$file/TSPF_Media_release_4Jan2011.pdf?openelement

I am pleasantly surprised that the project is good enough to receive a $1.0m funding (or subsidy) from BCA!

Tiong Seng appears to be a well-established and organized major local building construction and civil engineering group. More info.....$FILE/Tiong%20Seng%20Holdings%20Limited%20-%20AR09%20(SAR1004028).pdf [FY09 AR]
Following the release of the FY10 full-year results.....$file/TSH_Q4_2010-Results.pdf?openelement [FY10 results announcement]$file/TSH_Media_release_23Feb2011.pdf?openelement [Press release]
, S&P has today (28Feb11) issued a positive update report on Tion Seng.....
I thought today's (4Apr11) announcement on the award of a $192m HDB contract to build 1,072 units in Punggol West’s “Waterway Terraces” project (to be completed by Sep2014)......$file/TSH_Press_Release_AwardContract-040411.pdf?openelement
does show the technical and scale capabilities as well as reputation of Tiong Seng, as an expert building contractor.
Following the award by CDL/Hong Leong Singapore Group of a $146.0m construction contract for the 429-unit "Tree House" condo project located off Upper Bukit Timah Rd in Jun10.....$file/TSH-PressRelease-TreeHseContract.pdf?openelement
, Tiong Seng has just announced another award by Millennium & Copthorne Hotels plc/CDL Group of a $104.0m construction contract for the 150‐unit freehold "The Glyndebourne" luxury condo project located off Dunearn Road.....$file/TSH-LetterOfIntent.pdf?openelement [Announcement]$file/TSH-PressRelease-Glyndebourne.pdf?openelement [Press Release]

Indeed, Tiong Seng is piling up many good-sized building construction projects.
This morning I checked my bank account and noted a nice credit from Tiong Seng's $0.01/share Final dividend for FY10.

I wish Tiong Seng will pay out bigger dividends in the next few years.
Tiong Seng has secured another large contract from HDB.....$file/Announcement_pressrelease.pdf?openelement
Tiong Seng - probably the best expert builder of HDB flats and private condos - has secured yet another major contract. This time round, it is a $151 million contract from Keppel Land to construct “The Luxurie" condo project in Sengkang.....
from next insight

TIONG SENG HOLDINGS: Record $1.4 billion orderbook, highest among listed contractors

Written by Leong Chan Teik
Friday, 05 October 2012 08:33

STATION AND alignment details of the upcoming Thomson MRT Line were unveiled recently, creating a buzz among stock investors over which companies could benefit from the S$18-billion project.

Among contractors, mainboard-listed Tiong Seng Holdings is expected to be a beneficiary. It will be bidding for jobs on the new MRT Line, said its CEO, Pek Lian Guan, during a recent meeting with NextInsight.

The company currently is working on a section of Downtown Line 2.

Its joint venture with GS Engineering and Construction (South Korea) clinched the contract to design and construct the Hillview and Cashew MRT stations and tunnels in the Upper Bukit Timah area.

Tiong Seng, which is not extensively covered by analysts, was listed on the Singapore Exchange in 2010.

It has a market cap of S$165 million, based on a recent stock price of 21.5 cents (which is still below its IPO price of 28 cents).

Aside from its potential to win Thomson MRT Line contracts, Tiong Seng is a company to take note of for reasons including:

> Orderbook: Its construction order book stands at an all-time high of S$1.4 billion currently, and it is the largest among contractors listed on SGX.

The order book is expected to be fulfilled in the next 12 – 30 months.

Tiong Seng's on-going projects include The Wharf Residences, Volari, Park Royal Hotel at Upper Pickering Street, Tree House, NUS Staff Housing at Kent Vale projects, HDB Waterway Terraces I and 2, Hundred Trees and The Glyndebourne.

Recently, Tiong Seng also clinched a $137 million contract to build Phase 2 of Singapore Institute of Management's HQ campus extension, as well as a 16-storey warehouse development and bus interchange at Benoi Road and Joo Koon Circle worth S$229 million from NTUC Fairprice Co-Operative Limited.

As the list indicates, Tiong Seng is a versatile contractor. It has undertaken construction for private and public sectors in different categories --- residential, commercial / hotel, institutional and civil engineering.

> Innovative: Tiong Seng is a pioneer in a number of areas. For example, in May 2012, it officially opened its pre-fab hub, which is Singapore's first and only automated pre-cast manufacturing facility.

Costing S$36 million, the facility in Tuas uses German automated technology. This will result in further production savings when the factory reaches its optimal utilisation rate, said Mr Pek.

Since 2005, Tiong Seng has been designing and producing pre-cast components for use in most of its projects, making it a standout among contractors in Singapore.

A 40-60 joint venture between Tiong Seng and Kajima (Japan) built the integrated resort on Sentosa within 20 months, using 900 skilled workers. The JV also invested $40 million in advanced formwork to raise worksite productivity.> Established: Tiong Seng is 53 years old this year, making it one of the most established construction contractors around.

Several of its major projects in recent years, both on its own or through joint ventures, have become icons in the Singapore landscape, including:

* St Regis Hotel;

* Marina Bay Financial Centre;

* Luxury hotel Capella Singapore;

* Resorts World Sentosa.

> Leadership: A market leader, Tiong Seng Holdings holds the highest A1 grading from the Building and Construction Authority (BCA) in both the civil engineering and general building categories. This grade is a prerequisite for undertaking construction projects of unlimited value in the public sector.

Tiong Seng's CEO, Pek Lian Guan, started his career at Tiong Seng Contractors after graduating with a Bachelor of Civil Engineering (First Class Hons) from Loughborough University of Technology, United Kingdom, in 1989.

His father, Pek Ah Tuan, is one of the founders of Tiong Seng.
Whats the point of having the highest value order books if your margins are really pathetic? They are only earning single digit margins for their construction contracts. My friend in the construction industry told me they have a reputation for undercutting.
Do note 2 of Tiong seng china property devt projects are being delayed for half a year and they have not give reasons for the delay. Chk out investor central website for more details.
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