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Overseas Activities
Singapore
The surge in construction demand from the $11.5 billion in year 2005 to the $16.8 billion in year 2006 (46% increase) and then with another great leap to $24.5 billion in year 2007 (46% against the previous year and 113% against year 2005) is resulting in great strains on the resources available in this island republic.
Nishimatsu has also not been spared. Staff are moving on to higher paid positions at other firms and subcontractors are struggling to maintain their workforce. Amidst such trying circumstances, the Basic Structure Completion (BSC) of the New Nicoll Highway Station of the Land Transport Authority’s (LTA) Circle Line (CCL) Contract 828 was achieved on 15th March 2008, as contracted.
The works of Contract 823, which is also part of LTA’s CCL, are progressing well towards achieving the BSC dates of the two remaining stations, as scheduled. Architectural works for these stations will commence once the BSCs are attained and overall contract completion is scheduled for November 2009 for both C828 and C823.
The works at the Crowne Plaza Hotel located in the Terminal 3 Building of the Changi International Airport that commenced in the first quarter of 2007 were substantially completed in March 2008. This fast track partial design and build contract was awarded to the Joint Venture of Nishimatsu Construction Co., Ltd. and Lum Chang Building Contractors Pte. Ltd. (LCBC) by LC Airport Pte. Ltd. (a joint venture of LC Development Ltd. and LaSalle). Soft opening of the hotel is scheduled for May 2008 and the official opening is targeted towards the end of year 2008.
With the demand in the construction industry at an all-time high, opportunities are aplenty, but challenges are equally demanding. Nishimatsu has been working in Singapore with local partner LCBC since 1984. Together, they are now being selective and cautious as they review the opportunities prior to making and taking on new commitments in Singapore. This cautious move is to ensure and enable it to take advantage of the market conditions without being exposed to too many risks.
Nishimatsu has also not been spared. Staff are moving on to higher paid positions at other firms and subcontractors are struggling to maintain their workforce. Amidst such trying circumstances, the Basic Structure Completion (BSC) of the New Nicoll Highway Station of the Land Transport Authority’s (LTA) Circle Line (CCL) Contract 828 was achieved on 15th March 2008, as contracted.
The works of Contract 823, which is also part of LTA’s CCL, are progressing well towards achieving the BSC dates of the two remaining stations, as scheduled. Architectural works for these stations will commence once the BSCs are attained and overall contract completion is scheduled for November 2009 for both C828 and C823.
The works at the Crowne Plaza Hotel located in the Terminal 3 Building of the Changi International Airport that commenced in the first quarter of 2007 were substantially completed in March 2008. This fast track partial design and build contract was awarded to the Joint Venture of Nishimatsu Construction Co., Ltd. and Lum Chang Building Contractors Pte. Ltd. (LCBC) by LC Airport Pte. Ltd. (a joint venture of LC Development Ltd. and LaSalle). Soft opening of the hotel is scheduled for May 2008 and the official opening is targeted towards the end of year 2008.
With the demand in the construction industry at an all-time high, opportunities are aplenty, but challenges are equally demanding. Nishimatsu has been working in Singapore with local partner LCBC since 1984. Together, they are now being selective and cautious as they review the opportunities prior to making and taking on new commitments in Singapore. This cautious move is to ensure and enable it to take advantage of the market conditions without being exposed to too many risks.
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| Contract 828, Circle Line Stage 1, Boulevard Station, Singapore |