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| Wednesday, 6 November 2013, 19:50 HKT/SGT | |
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| Boosting its Southeast Asia Portfolio to 1.2 Billion |
HONG KONG, Nov 6, 2013 - (ACN Newswire) - Yuanda China Holdings Limited ("Yuanda China" or the "Company", together with its subsidiaries, collectively referred to as the "Group", stock code: 2789.HK) is glad to announce that it has won a bid for the Marina South project with a contract value of RMB744 million, which is the highest bid price for a curtain wall project in the Singaporean history of architecture. After a highly competitive bidding process started on 21 October, this much sought-after contract in the Southeast Asian construction market has been awarded to Yuanda China. Recently, Yuanda China has undertaken curtain wall projects worth approximately RMB1.2 billion in countries such as Singapore and Vietnam, signaling the Company's steady expansion in Southeast Asia.
The Marina South project is located by Marina Bay, a tourist attraction in Singapore. This beautiful seashore is home to skyscrapers with the most artistic value in Singapore, and Marina South stands to be one of the most splendid complexes among them. With a construction period of 29 months, this project has already been launched and is scheduled to be completed in March 2016.
The two most important buildings of this project are a 225-meter-high office building and a 139-meter-high residential building respectively. The winning bid price for this project amounted to SGD 153.5 million (equivalent to approximately RMB744 million), making the contract value the highest for a single curtain wall project in the history of the city-state known for its skyscrapers.
It is known that the Government of Singapore and the Government of Malaysia have given great importance to this mega-project. Many well-known curtain wall companies from around the world have tried their best in the bidding process and these heavyweight players included the well-established Permasteelisa from Italy, YKK from Japan, Benson from the United States, Mero from Germany and competitive Singaporean home-grown AVA Global. Finally, Yuanda China stood out on the strength of its innovative and clear structure design, reasonable selection of low-carbon materials and its environmental protection technology for the whole process of building curtain walls. The proprietors of Marina South indicated that Yuanda China's position and reputation in the international market are also key factors for winning the contract.
Recently, Yuanda China has undertaken several major projects in the Southeast Asian market, including the Head Office Tower of Vietinbank (VTB), which will soon become the new highest building in the country. Together with the newly bid Marina Bay Project in Singapore, the Company has accumulated contracts of curtain wall for the amount of RMB1.2 billion in the Southeast Asian market. This group of figures is fairly fabulous in the increasingly competitive global curtain wall market today.
"The leading technology, reliable quality, world-class reputation and the sincere and detail oriented attitude in the bidding process are all the determining factors for us to entrust our projects to this Chinese enterprise," owners of several projects in Southeast Asia mentioned.
Since 2013, Yuanda China has been dedicating to the development of overseas markets and won tenders for several landmark projects in the global market. Currently, the tenders for landmark projects such as Marina Bay Project in Singapore, Head Office Building of Head Office Tower of Vietinbank (VTB), the Grand Mosque in Algeria, Indescon Court of London and 377 Kings Reach of London have been won and construction has been or will be started. Yuanda China is steadily on its way towards ongoing exploration of overseas markets.
Topic: Press release summary
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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