TA Corporation’s construction business is principally undertaken through our wholly-owned Tiong Aik Construction Pte. Ltd., which has a track record of more than 45 years in the construction business in Singapore. Over the years, we have built a solid reputation as a reliable building contractor with the ability to undertake a wide spectrum of projects. Our diverse portfolio comprise of projects from the public and private sectors and our clientele has grown to include government bodies and established real estate developers.
Tiong Aik Construction Pte Ltd, holds the highest BCA grading of A1 for general building work, which allows us to undertake public sector construction projects with unlimited contract value. As a main contractor, we provide a range of construction services that covers structural, architectural, mechanical and electrical works, as well as interior fitting-out works, external works and landscaping.
The Group’s 90%-owned subsidiary Aston Air Control Pte Ltd (“Aston Air Control”) is engaged in the design, installation and maintenance of air conditioning and mechanical ventilation systems. Aston Air Control currently provides a one-stop centre for air-conditioning and mechanical ventilation works in Singapore and has also expanded into Cambodia in 2015.
To complement our construction business, we also expanded our services to include the operation of BCA-approved training and test centres in Chennai, India and in Singapore, fabrication of metal frameworks, erection of building structural steels as well as management of Group’s construction machinery.
Our concrete precast components factory in Johor, Malaysia, which has a current capacity of 36,000 cubic metres per annum and the capability to scale up to 42,000 cubic metres per annum, will enable us to tap the industry’s growing demand for concrete precast component . Moreover, our 80%-owned joint venture company TK Modular Pte. Ltd, which is involved in the design, development, manufacture and distribution of Prefabricated Prefinished Volumetric Construction (PPVC) modules, will position us well to further enhance productivity in construction – both for our own property development and construction projects as well as to fulfil the growing demand for solutions to improve labour productivity and operational efficiency in the construction industry.
Real Estate Development
The Group entered the real estate development business in Singapore in 1995. We focus on well-located projects targeted at the middle to upper-middle income markets. These projects include landed properties, apartments and condominiums built on freehold land acquired from private parties and leasehold land acquired from the government.
To expand our income stream, the Group entered new markets beyond Singapore through joint ventures. These markets include Thailand, Cambodia, and China where the Group has developed a portfolio of residential and mixed development projects.
Currently, the Group has landbank of about one million sq ft in Pathum Thani, Thailand and about 200,000 sq ft in Phnom Penh, Cambodia. The landbank is earmarked for mixed-use developments.
Real Estate Investment
The Group derives income from the rental or/and management of our investment properties in Singapore. These properties include workers’ dormitories, commercial units as well as industrial properties.
Under the workers’ dormitories space, the Group owns more than 10,000 dormitory beds for foreign workers in Singapore. In 2016, we expanded our dormitory business with the commencement of our 9,180-bed Tuas South Dormitory, one of Singapore’s largest purpose-built dormitories which is approved for the marine, process, manufacturing and construction sectors.
The Group also owns more than 61,000 sq m of investment property space where we derive our rental income by leasing commercial units to third party operators. These units include the 4,635 sq m of commercial units at New World Centre in Singapore.
In September 2012, the Group entered the distribution business to diversify our business and build new recurring income streams. The Group started with the acquisition of Sino Tac Resources Pte. Ltd., which specialises in the distribution of high performance motor oil and lubricants in Singapore and has been the exclusive distributor of BP’s lubricating fluids in Singapore since 2007.
Over the years, the Group has expanded its product range and geographic markets via joint ventures. The Group currently distributes high performance motor oil and lubricants in Singapore, Thailand and Myanmar. Besides BP lubricants in Singapore, we are the exclusive distributor for Repsol lubricants in Thailand. Additionally, the Group holds the rights from Shell Eastern Petroleum to distribute automotive, aviation and industrial lubricant products in the business-to-business sector as well as the business-to-consumer sector in Myanmar. The Group also deals in lubricants and related products under the “GS Oil” brand as well as our in-house owned “Synergy” brand.
To further tap the buoyant growth opportunities in Myanmar, we widened our distribution portfolio to include tyres, heavy commercial vehicles, trucks, buses and automotive spare parts. The Group’s joint ventures hold distributorships for the ‘Continental’ brand of passenger and light truck tyres as well as trucks, buses, vans and other commercial vehicles under the ‘Iveco’, and ‘Astra’ and ‘Zhong Tong’ brands. We also hold distribution rights for construction equipment from CASE Construction.
Moving forward, the Group plans to secure distributorships for new markets and clinch additional distributorships of related products from principals.