L Sinosun Architects & EngineersIt is one of China’s top 20 architectural firms. WithSinosun’s class A licence and presence in 11 Chinese cities,Surbana Jurong now has market access to 16 cities and willnot be limited on projects it can bid for.
L KTP ConsultantsThe regionally established KTP will also help SurbanaJurong unlock markets in Malaysia, Indonesia and Myanmar.In Singapore, the civil engineering firm is noted fordevelopments such as Project Jewel, a new retail andlifestyle complex at Changi Airport.
Growth through acquisitionsBy WONG WEI HAN
THE newly merged entity of Sur-bana International Consultantsand Jurong International Holdingsaims to become one of the globalbig boys in infrastructural andurban development consultancy.
Mr Liew Mun Leong, chairmanof Surbana Jurong Private Limit-ed, highlighted his company’s am-bition yesterday when its namewas unveiled for the first timeafter the merger’s announcementin February.
Two new acquisitions by Surba-na Jurong were also announced,with more to follow as the groupaims to keep expanding its exper-tise and regional market share.
“Our competitors are very glo-bal players that can do $2 billion
to $3 billion (in revenue) a year –we want to be the first one in Asiato reach that level,” said Mr Liew.
“Post acquisitions we’ll bedoing around $500 million in feeincome. With the market facingus, we can grow that to $1 billionto $1.5 billion in the next three tofive years, while growing our staffstrength from 4,000 currently to6,000 people.”
Surbana Jurong combines itspredecessors’ extensive expertiseand market reach in urban plan-ning, industrial and residentialprojects and infrastructure devel-opment consultancy.
Its landmark projects in thepipeline include the masterplan-ning of Andhra Pradesh’s new cap-ital city in India.
The company will be poised to
ride the explosive growth in spend-ing on infrastructure and urbandevelopment in Asia, where theChina-led Asian InfrastructureInvestment Bank and Japan haverecently pledged funds of overUS$200 billion (S$266 billion) forprojects, Mr Liew added.
Surbana Jurong will seekgrowth mostly through acquisi-
tions, underling the strategy byannouncing yesterday that it hasbought Sinosun Architects & Engi-neers in China and Singapore’sKTP Consultants.
The total deal size was not dis-closed.
Sinosun is one of China’s top20 architectural firms. WithSinosun’s class A licence and pres-
ence in 11 Chinese cities, SurbanaJurong now has market access to16 cities and will not be limited inprojects that it can bid for.
The regionally established KTPwill also help Surbana Jurong un-lock markets in Malaysia, Indone-sia and Myanmar. In Singapore,the civil engineering firm is notedfor developments such as Project
Jewel, a new retail and lifestylecomplex at Changi Airport.
China and South-east Asia willcontinue to be Surbana Jurong’smainstay markets, Mr Liew said,but it is also an emerging player inAfrica and is keeping an eye on op-portunities in South America.
Surbana Jurong chief executiveWong Heang Fine told The StraitsTimes that his company has beenlooking for acquisition targets glo-bally since last year, which led torecent trips to Scandinavia and Ja-pan in recent weeks.
That acquisition drive is stillon, Mr Wong added.
“For our upcoming acquisi-tions, we may look at companieswith capabilities in caving and tun-nelling,” he said.
The company is able to “spendon acquisitions, but we will dothem only if they can bring newcapabilities and market access toSurbana Jurong”.
Newly merged consultancy unveilstwo acquisitions, with more to follow
Surbana Jurong chairman Liew Mun Leong said the company will be poised to ride the explosive growth in spending oninfrastructure and urban development in Asia. PHOTO: MIKE LEE FOR THE STRAITS TIMES
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SurbanaJurong setsits sightson being aglobal leader
NEW CAPABILITIES
For our upcomingacquisitions, we maylook at companieswith capabilities incaving and tunnelling.(We are able to)spend on acquisitions,but we will do themonly if they can bringnew capabilities andmarket access toSurbana Jurong.– Surbana Jurong chief executiveWong Heang Fine
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