17 Jan '11, 3am

Ssangyong to build mall in Singapore: SSANGYONG Engineering & Construction has won a 35 billion won (S$40.5 mill...

SSANGYONG Engineering & Construction has won a 35 billion won (S$40.5 million) deal to build a premium shopping centre in Singapore, the latest boost to its growing presence in one of Asia's hottest construction markets. Korea's 15th-largest builder signed the contract with City Development Ltd, the largest property developer of Singapore, on Thursday. Ssangyong will design and construct a two-storey luxury mall with a basement by April 2012 beside W Singapore Sentosa Cove Hotel, which is also being built by Ssangyong. City Development, affiliated with Singapore's top conglomerate Hong Leong Group, operates some 110 hotels in 18 countries, including Millennium Seoul Hilton in Korea. 'We won the contract not by offering lower prices but because of relations between two company owners and the advantage of using materials and workforce already put into the hotel work was also...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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