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News
Award Of Contract By National Heritage Board
The Board of Directors of BBR Holdings (S) Ltd (the "Company") wishes to announce that its joint venture, Takenaka-Singapore Piling Joint Venture ("JV"), has secured a S$413.8 million construction contract from the National Heritage Board to restore two iconic heritage monuments in the heart of the Civic District, the former Supreme Court and the adjacent City Hall.
The new contract was awarded to the JV as the main contractor. BBR's wholly-owned subsidiary Singapore Piling & Civil Engineering Private Limited has a 25% share in the JV. The project is scheduled to begin in January 2011 and is expected to be completed in the second half of 2014.
Save for the independent director, Professor Yong Kwet Yew, who is a member of the Design Review Panel for the National Art Gallery project , none of the Directors or substantial shareholders of the Company has any interest, direct or indirectly, in the Contract. Professor Yong Kwet Yew was not involved in any discussions or negotiations leading to the award of the Contract.
There is no material impact on the earnings per share or net tangible assets per share of the Company for the current financial year ending 31 December 2010.
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