KSH HOLDINGS LIMITED secures two contracts

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CONSTRUCTION company KSH Holdings has secured two contracts from the Ho Bee Group worth more than $118 million to build high-end residences at Sentosa Cove and Orange Grove.

The deals take the value of construction contracts secured by KSH this year to $512.8 million. The company's order book now stands at a record $498 million.

One of the new contracts, worth about $64.8 million, is for Ho Bee's Turquoise @ Sentosa Cove condominium and showflat. Work will start in February 2008 and be completed within 26 months.

The contract takes the total value of KSH's projects at Sentosa Cove to more than $292.8 million. Besides Turquoise @ Sentosa Cove, it is building Ho Bee's The Coast @ Sentosa Cove.
The other contract announced yesterday is for The Orange Grove in Stevens Road. The contract value is about $53.2 million.

The development will have 72 units with attics. Work is scheduled to start this month and be completed in 28 months.

KSH chairman and managing director Choo Chee Onn said that his company has had a strong working relationship with Ho Bee since November 2000.

'With our solid track record of high-profile construction projects, we are confident of benefiting from the construction boom and achieving even greater heights,' he said.

KSH was listed on the Singapore Exchange in February at 36 cents a share but its stock closed at 94 cents yesterday - a jump of about 160 per cent.

On Tuesday, the company proposed a one-into-two stock split to improve the liquidity of the shares and enhance their affordability.


金成兴获和美集团1.18亿元豪宅建筑合同

本地建筑商金成兴控股(KSH)获得和美集团(Ho Bee)的两项总值超过1亿1800万元的高档豪宅建筑承包合同。这两个项目分别位于升涛湾(Sentosa Cove)和柑林路(Orange Grove)。

金成兴控股是通过其本地独资子公司金成兴工程建筑(KSHEC)，获得这两份新合同。

第一个项目是建造Turquoise@升涛湾的共管公寓项目，合同价值约为6480万元，集团将负责设计、建造和维修公寓，包括兴建临时的示范公寓和销售办公室。工程预计会在明年2月展开，预计26个月内竣工。

第二个项目是史蒂芬路(Stevens Road)和柑林路上的12层楼高私人共管公寓，合同价值约为5320万元。包括阁楼(attic)在内，这个项目共有72个单位，还有一个地下停车场。项目预计这个月会动工，估计28个月内竣工。

金成兴控股总裁朱峙安表示，金成兴与和美集团在2000年11月就开展合作关系。这次能再一次从和美集团手中取得新的承包项目，使集团感到非常荣幸。

金成兴控股目前已在升涛湾负责承包的工程，就包括圣淘沙升涛湾的ONE°15滨海俱乐部、泊宁轩(The Berth by The Cove)和海韵湾(The Coast)。前两个项目已竣工。第一个工程由SUTL集团颁发，后面两个高档私宅发展项目的发展商也都是和美集团。

新建筑合同的颁发，也使金成兴在升涛湾的承包合同总值，增加到超过2亿9200万元，并使金成兴自今年头开始承包的工程合同总值，达超过5亿1200万元。

与此同时，新的建筑项目也使金成兴的建筑业务的订单额，增加到4亿9800万元，所有手头上未竣工的项目，也能让它一直忙到2010年3月31日的财政年结束。

除了建筑承包外，金成兴最近也进军本地房地产发展市场，日前，金成兴就一口气以1亿2000万元(即容积率每平方英尺580元)，买下仰光路(Rangoon Road)五座集体求售的相连接小型私人公寓。

朱峙安表示，目前正同其他投资者进行洽谈，希望组成联营企业来发展这个优质私宅地段。