BBR wins $4.9mln deal for West Coast condominium

Singapore Piling & Civil Engineering Private Ltd initiated foundation piling work for The Vision.

Mainboard-listed BBR Holdings (S) Ltd (BBR) has secured a S$4.9 million contract to undertake piling works for The Vision condominium development at West Coast Crescent.

The contract was awarded to BBR’s wholly-owned subsidiary, Singapore Piling & Civil Engineering Private Limited, by Team Design Architects Pte Ltd on behalf of the developer Grand Waterfront Development Pte Ltd, a member of the Hong Kong Cheung Kong Group. The ground work on Singapore's tallest waterfront residence has already begun and is expected to be completed by the end of this year.

When completed, The Vision condominium will consist of two high-rise towers comprising 281 luxurious condominium units and 14 units of 3-storey terrace houses located on a plot size of 129,120 sq ft. The development which was launched in March 2010 will give residents a rare panoramic West seaview and is slated to become one of Singapore’s defining landmarks and an iconic addition to its West Coast skyline.

BBR Group, which started in 1993 as a specialist engineering group, has three core business activities, namely General Construction, Specialised Engineering and Property Development.

Mr Andrew Tan, BBR Group’s Chief Executive Officer, was pleased with the Group’s latest win. He said: “Our capabilities in foundation piling solutions have been developed and fine-tuned over the last 30 years. It’s our privilege to have been part of Singapore’s building landscape over the decades – although most of our work is underground and hidden from sight – and we are delighted to have landed this prestigious residential development.”

BBR has carved a name for itself as a specialist piling contractor, focusing on the design and installation of foundation systems for large infrastructure and construction projects, using specialised bored piling techniques. Its experience is extensive, across a broad mixture of infrastructure developments and building projects, ranging from power stations, bridges, residential, industrial and commercial buildings to schools and hotels both in Singapore and overseas, including in countries like Korea and Sri Lanka.

“This experience and expertise will underpin the successful delivery of the foundation piling works for The Vision condominium development,” added Mr Tan.

Contract wins in 2010
The contract is the third the Group has won since the start of 2010. In February, BBR announced a S$42 million contract win from Yang Kee Holdings Pte. Ltd. to construct Phase 1 of the Yang Kee Logistics Chemical Hub at Jurong Pier; and in May, it secured a second contract worth S$139.6 million from the Urban Redevelopment Authority to construct Phase 3B (MC02) of the Proposed Common Services Tunnel at Marina Bay.

On-going activities
The Group’s other ongoing civil engineering and building projects include a S$189.6 million contract for Phase 3A of the Common Services Tunnel which is due for completion in the second half of 2011, a S$77.7 million contract to build the Singapore Island Country Club’s main clubhouse targeted to be finished in 2011, and a S$104.2 million contract from the Housing & Development Board to build seven blocks of flats in Yishun Neighbourhood 4 scheduled for completion in 2012.

For its first quarter ended 31 March 2010, the Group achieved a net profit after tax of S$4.6 million on revenue of S$32.3 million. BBR’s current order book stands at approximately S$525 million, comprising mainly civil engineering and building projects in Singapore and Malaysia.