New Market Report: Singapore Infrastructure Report Q3 2013

From: Fast Market Research, Inc.
Published: Fri Jun 07 2013

Singapore's construction sector has grown at a faster rate than previously anticipated in Q113, prompting us to revise up our full-year growth forecasts for 2013 to 6.2% (previously 5.1%). This is despite a lack of trade activity in Singapore (a major driver of non-residential construction), several rounds of government measures to curb speculation in the buildings market, and lower fixed investment by the government. Despite the upward revision, we continue to expect this decline in construction activity to extend until 2020, with real growth for Singapore's construction sector forecast to average 3.7% per annum between 2014 and 2020.

The key drivers affecting construction growth are:

* In March 2013, India-based construction company GMR Infrastructure sold its stake in GMR Energy (Singapore), the subsidiary that owns the Island Power gas power plant project, to FPM Power Holdings for SGD660mn (US$530mn). With the sale, FPM Power Holdings, a joint venture owned by Philippines' utility Manila Electric and Hong Kong-listed First Pacific, will own a 70% stake in the Island Power project, with Malaysia's Petronas Power owning the remaining 30%. The Island Power gas power plant project involves the construction of a 800MW combined cycle gas turbine power plant on Jurong Island. The power plant is scheduled to be operational by end-2013.
* In February 2013, Changi Airport Group (CAG), the operator of Singapore's only international airport, started demolishing its budget terminal to make way for the construction of a larger terminal. The new terminal, known as Terminal 4, would have a handling capacity of 16mn passengers per annum, more than double the budget terminal's capacity of 7mn passengers. The demolishing works at the budget terminal are expected to be completed by June 2013, with Terminal 4 to start construction in H213 and be completed by 2017. The construction cost of Terminal 4 is expected to be around SGD600mn, while the airfield developments around the terminal (such as parking stands, ancillary buildings as well as road and drainage works) would cost SGD680mn.
* In February 2013, Singapore and Malaysia jointly announced plans to construct a high-speed railway line between the city state and Kuala Lumpur, the capital city of Malaysia. The high-speed railway project is expected to be carried out under a public-private partnership (PPP) format and be completed by 2020 at the earliest. According to an official statement, a committee consisting of ministers from both countries is set to carry out a detailed evaluation of the project.

Full Report Details at

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156.

You may also be interested in these related reports:

- South Korea Infrastructure Report Q3 2013
- Brazil Infrastructure Report Q3 2013
- Vietnam Infrastructure Report Q3 2013
- Canada Infrastructure Report Q2 2013
- China Infrastructure Report Q2 2013

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email:
Contact Phone: 1-413-485-7001

Visit website »