According to SGX filing, Soilbuild Construction Group has agreed to get hold of 70 per cent shares in CS Corp Pte Ltd. The news of this acquiring came on June 12, 2017.
CS Corp Pte Ltd (CSC) is a Singapore- based company engaged in pre-fabricated pre-finished volumetric construction (PPVC) business. Seventy percent of shares in CSC were purchased by SB Project Services Pte Ltd, which is a subsidiary of Soilbuild Construction Group. SB Project Services Pte Ltd is fully owned by Soilbuild. The shares that Soilbuild acquired originally belonged to Swanhoff Pte. Ltd and Hiew Ching Yong.
In 2016, CS Corp Pte Ltd developed a Concrete PPVC System, popularly referred as CSVC System. Through the Building Innovation Panel, Building and Construction Authority (BCA) accepted CSVC System to be used in the local construction projects.
“Soilbuild is a firm believer of adopting latest technologies,” said Soilbuild Executive Director Ho Toon Bah. “And implementing new technology in our business model is our main strategy to make the company relevant and gains substantial growth over the time.”
Executive Director Ho Toon Bah says that the company is aiming to complete the integrated construction and precast hub this year, and will start manufacturing precast building components by 2018. According to Ho Toon Bah, the manufacturing plant is automated. “We are really happy to form a partnership between Soilbuild and CSC, and strengthen our capacity in modular construction.”
Apart from this stake transfer to Soilbuild, CSC will be investing just about S$4 million on its CSVC System. This investment is will be used for designing, manufacturing and assembling of PPVC modules. CSC is bend on commercialising its product.
Based on “Design for Manufacturing and Assembly (DfMA)” idea, PPVC is a breakthrough technology. The main function of this technology is to speed up construction work. Under this technology, the building components are manufactured in factories and then moved to the construction site for assembling.
Since November 1st, 2014, under the Government Land Sales program, PPVC has been made obligatory for some non-landed residential sites. Therefore, investment in PPVC is considered highly profitable for this group. This investment will also increase its ability to perform better when it comes to file tenders for local projects. The group is also engaged in Myanmar, a country that is rapidly pushing for urbanism. The investment will also improve its business sin Myanmar.
For the fiscal year that ends on 31 December, 2017, this acquiring will not create any material impact on Soilbuild’s share earnings and tangible assets.
An excellent place for an investment is the Belgravia Villas. This is considered a monumental strata cluster project that lies at Ang Mo Kio Ave 5 in District 20, Singapore. This property have 100 strata terrace houses with 18 semi-detached units tailored to bring comfort and conducive abode to the family. The anticipated TOP for this freehold development will be in 2018.
