Newly-listed property firm TA Corporation, through its wholly-owned subsidiary Tiong Aik Construction Pte Ltd, has clinched two new construction deals worth S$271 million from Allgreen Properties and its subsidiary.
The first contract is for a proposed condo development at Upper Serangoon Road worth S$231 million, while the second contract is for a planned condo project at West Coast Road totalling S$40 million. The company said construction for both developments will begin early next year.
“We are delighted to have secured two projects from our valued long-time customer, Allgreen Properties Ltd, with whom we’ve had a strong working relationship,” said Neo Tiam Boon, CEO and Executive Director of TA Corp.
“With our experience and expertise in the construction industry, we are well-positioned to secure more construction projects to further strengthen our order book.”
The company said the two contracts are not expected to have material impact on its net tangible assets and earnings per share for the current financial year ending 31 December 2011.
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