Chip Eng Seng’s Chairman & Dy Chairman honoured

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Chip Eng Seng’s Chairman & Dy Chairman honoured


August 23rd, 2013 | Author: Editorial




Yesterday (22 Aug), business associates of Chip Eng Seng (CES) Corporation
bought a half a page advertisement in the Straits Times (page A20) to
congratulate Mr Lim Tiam Seng, the Executive Chairman, and Mr Raymond Chia, the
Executive Deputy Chairman and Group CEO, on being conferred a National Day Award
this year.



Mr Lim Tiam Seng who was already a PBM holder, was conferred the Public
Service Star (BBM) while Mr Raymong Chia was conferred the Public Service Medal
(PBM).

Both are, of course, grassroots leaders helping their community. Mr Lim Tiam
Seng is the Patron of Yio Chu Kang Citizens’ Consultative Committee (CCC) while
Mr Raymond Chia is the Patron of Nee Soon South Citizens’ Consultative Committee
(CCC). Mr Lim himself is the founder of CES.

According to its website [Link], CES is a public
listed company and a major contractor of HDB housing projects:


Chip Eng Seng Corporation Ltd (CES) is a construction and property group
listed on the mainboard of the Singapore Exchange Securities Trading Limited
(SGX-ST). The Group’s construction business is undertaken by Chip Eng Seng
Contractors (1988) Pte Ltd (CESC) and CES Engineering & Construction Pte.
Ltd. while CEL Development Pte. Ltd. (CEL) is its property investment and
development arm.

The history of Chip Eng Seng Group goes all the way back to the 1960s, when
its founder, Mr Lim Tiam Seng started the business as a building subcontractor
for conventional landed properties. With competitive pricing and quality work,
the business grew and the company began taking on the role of a main contractor.
In 1982, the company won its first Singapore Housing and Development Board (HDB)
project as a main contractor. With that, the company continued to establish its
position in HDB public housing construction. In the 1990s, the Group diversified
into property investment and development of residential, commercial and
industrial properties.
Indeed, CES has won many contracts from HDB in the past:

• $279 million contract to build The Pinnacle@Duxton in 2005 [Link]
• $124 million contract to build 5 residential blocks with 698 units and other
  community facilities at Sengkang in 2008 [Link]
• $188 million contract to build 1,394 units and other community facilities at
  Queenstown in 2008 [Link]
• $156 million contract to build flats at Punggol West in 2008 [Link]
• $113 million contract to build 5 residential blocks with 792 units and other
  community facilities at Hougang in 2011 [Link]
• $137.3 million contract to build 7 residential blocks with 862 units and
  other community facilities at Bukit Panjang in 2012 [Link]
• Etc

The HDB contracts must have helped CES make a lot of profit.

Interestingly, 2 CES directors are ex-PAP MPs [Link]:


Mr Goh Chee Wee – he has been an Independent Director since
2 November 1999. Mr Goh is the Chairman of NTUC First Campus Co-operative Ltd
and a Director of NTUC Foodfare Co-operative Ltd. He also sits on the boards of
several public listed companies. He is a former Minister of State for Trade
& Industry, Labour & Communications and MP for Boon Lay
Constituency.

Mr Ang Mong Seng – he has been an Independent Director since
19 March 2003. He is a former MP for Hong Kah GRC (Bukit Gombak). He also sits
on the boards of several public listed companies.



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