Tiong Seng

Tiong Seng: Subsidiary Robin Village will be setting up a JV with Geostr Corporation and Marubeni-Itochu Steel (44:51:5) to set up and operate a precast plant to manufacture and supply precast tunnel segments to the Singapore and Malaysia markets with a total expected investment of $14.5m. The facility will be set up on the premises of Robin Village’s existing precast plan in Iskandar, Malaysia. Robin Village’s equity contribution is expected to be $2.9m This JV will enhance Tiong Seng’s existing precast capabilities, and it hopes to put it at an improved footing to tap on Singapore MRT’s $60b island-wide rail masterplan and other projects in Malaysia. Tiong Seng had recently won a $316m JV contract by the LTA for the construction of Great World Station and tunnels for the Thomson Line, which updates its order book to $1.27b as at 31 May, stretching visibility to 2020.