Swee Hong's revenues up 17% in 2014

Gains were seen in both civil engineering and tunneling segments.

New contracts secured in previous financial year proceeded to a more active construction phase in 2014.

In a media release, Swee Hong Limited, principally engaged in civil engineering works and micro-tunneling works in Singapore, announced that revenue from civil engineering was higher by S$3 million as compared to FY2013. New contracts secured in previous financial year proceed to more active construction phase which contributed to the increase in the revenue in FY2014.

Swee Hong adds that revenue in FY2014 from the Tunneling segment was higher as a new project obtained in late FY2013 proceeds to more active construction phase which contributed to the increase in revenue in FY2014.

As at the date hereof, the order books of the construction business (i.e. the tunnelling and the civil engineering segment) is approximately S$163 million, of which the MacRitchie Viaduct and Adam Flyover project worth S$126 million was the most significant. This project is expected to contribute significantly to revenue in FY2015.