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DINGS (S) LTD
ANNUAL REPORT 2015
for higher property development
revenue contribution in FY2014
compared to FY2015. Bliss @Kovan
attained temporary occupation permit
(“TOP”) in November 2015 and the
remaining revenue for sold units
were recognised.
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to $25.2 million from $28.7 million
in FY2014, largely weighed down
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specialised engineering and property
development segments, even though
it was partially offset by improved
returns for general construction
activities in FY2015. While gross
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Singapore fell due to lower revenue,
contribution from specialised
engineering also decreased as it was
affected by the Groups new business,
i.e. prefabricated pre-finished
volumetric construction. Overall, the
Group’s gross margin grew to 5.9%
for FY2015 from 4.3% in FY2014,
due mainly to improved performance
by the general construction segment.
I
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VATION FOR GROWTH
Casting our sights over the growth
horizons, BBR seeks to keep abreast
of the building and construction
technology innovation curve by
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Volumetric Construction (“PPVC”)
method through the acquisition of
Moderna Homes Pte. Ltd. (“Moderna
Homes”) in September 2014.
Currently a 75% owned subsidiary
of BBR, Moderna Homes possesses
the competence to design and
assemble prefabricated buildings
and Prefabricated Bathroom Units
(“PBU”).
PPVC technology is slated to be the
key smart technology for boosting
productivity in the building &
construction sector. The recent spike
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government agencies in Singapore
specifying PPVC applications attests
to the upturn of the growth cycle for
the adoption of PPVC construction
technology.
In addition, Moderna Homes is
proud to be one of four selected
companies which has been awarded
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for its PPVC design system by seven
Singapore government agencies
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the Building Innovation Panel.
PPVC system has been recognised
for its level of innovation and the
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construction productivity. As the bulk
of prefabrication works are moved
to a controlled environment off-site
within a factory, not only will there
be reduced noise and dust pollution,
site safety will also be improved.
Moderna Homes has carved a unique
market leadership in the steel PPVC
method which can deliver up to 40%
improvement in labour productivity
and
shortened
construction
timeframe.
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the Hall of Residence in Nanyang
Technological University for 1,582
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public high-rise development in
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is due to be completed in the third
quarter of 2016.
Moderna Homes is also involved in
another residence hall construction
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University at Western Water
Catchment, for supply of 712 hostel
rooms. Delivery and installation of
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Government Land Sale programme
to adopt PPVC technology and
PBU. This initiative by the Singapore
government is a further testament of
PPVC methodology which will reduce
construction time and dust, increase
productivity and improve quality of
construction.
D
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ERING GREEN
E
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R
GY
With the current prevailing lows in
oil prices globally, the outlook of
the green technology segment has
momentarily been dampened by
the lowered tariff surcharge rates
for solar energy. We hold the long
term view that renewable energy will
increasingly be the alternative source
to fossil fuels in Singapore and will
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implementation.
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contract was with the HDB for the
design, installation, operation and
maintenance of a 6 MW peak grid-
tied solar photovoltaic (“PV”) system
to be installed on the rooftops of
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In a power purchase agreement
signed with Ang Mo Kio Town
Council, electricity generated from
the solar panels over 20 years will
be translated into revenue upon
commissioning of completed blocks
over time, commencing in the last
quarter of 2015.
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embarked by BBR is our participation
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Singapore Economic Development
Board and the Public Utilities Board.
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reservoir will allow companies to
develop, test and evaluate the
economic and technical feasibility of
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water, as an alternative to deploying
solar systems on rooftops.
CHAIRMAN’S
MESSAGE
Specialised Engineering
General Construction
Property Development
Green Technology
REVENUE
