14 June 2017
Wee Hur Construction wins BCA Green and Gracious Builder Award 2017

The Group’s wholly-owned subsidiary, Wee Hur Construction Pte Ltd, was awarded the BCA Green and Gracious Builder Award – Star in the BCA Awards 2017.  This award is given to progressive builders who have taken significant steps to address environmental and public concerns in construction works and helped develop a more positive image of the construction industry.

 
18 May 2017
Wee Hur's subsidiary awarded S$62 million contract to build 8-storey factory for Stuttgart Auto

The Group's wholly-owned subsidiary, Wee Hur Construction Pte Ltd, has secured a S$62 million construction project from Stuttgart Auto Pte Ltd to build an 8-storey single user factory with 3 levels of basement carpark, and comprising car workshops and showrooms, as well as ancillary offices between Kung Chong Road and Chang Charn Road, off Leng Kee Road. Construction will commence on 30 May 2017 and will last 30 months.

 
22 March 2017
Wee Hur's subsidiary awarded S$22.8 million contract to build 6-storey office block for PUB

The Group's wholly-owned subsidiary, Wee Hur Construction Pte Ltd, has secured a S$22.8 million contract for the redevelopment of WaterHub project from PUB, Singapore's National Water Agency. The scope of project covers the erection of a 6-storey office block and additions and alterations to the existing WaterHub Building at Toh Guan Road East (Clementi Planning Area). The project will commence on 31 March 2017 and will last 15 months.

 
22 December 2016
Wee Hur sets up Australian-focused Purpose-built Student Accommodation Private Trust

The Group set up an Australian-focused Purpose-built Student Accommodation ("PBSA") Private Trust, name Wee Hur PBSA Master Trust, for the purpose of developing and operating PBSAs in major cities in Australia. The Group is seeding the first two PBSA developments in Brisbane, totally about 2,500 beds, into this proposed trust. The first proposed PBSA which is under construction on Buranda Plot 1 is expected to complete by end of 2017. The Group is currently seeking approval from the relevant authority for the second proposed PBSA to be developed on the remaining plot at Ann Street, Brisbane.

 
17 October 2016
Wee Hur's subsidiary awarded land parcel at Fernvale Road, intends to develop condominium

The Group's wholly-owned subsidiary, Wee Hur Development Pte Ltd, together with a wholly-owned subsidiary of Sing Holdings Limited, has been awarded the tender of a land parcel at Fernvale Road at a price of S$287.1 million. Following the award of this tender, a JV company will be set up, with Wee Hur holding 30% stake, to undertake a condominium development with a GFA of about 51,588 sqm.

 
27 May 2016
Wee Hur awarded BCA Construction Excellence Awards 2016 Certificate of Merit for Nexus@One North

Nexus@One North, a construction project comprising two blocks of six-storey business park and office mixed use development built by Wee Hur at Fusionopolis Link, has been awarded the BCA Construction Excellence Awards 2016 Certificate of Merit under the Commerical / Mixed Development Category.

 
21 Apr 2016
Wee Hur awarded a S$82.2 million contract to build warehouse for Mapletree Logistics Trust

Wee Hur Construction Pte Ltd was awarded a S$82.2 million contract to design and construct a single user 5-storey warehouse with an industrial canteen at No.76 Pioneer Road for Mapletree Logistics Trust. Work on this new project will commence on 1 May 2016 and is expected to complete in 17 months by 30 September 2017. Revenue from this project is expected to flow in from FY2016 to FY2017.

 
3 Jan 2016
Wee Hur officially launches 517-unit industrial development MEGA@Woodlands on 15 January 2016

Wee Hur officially launched its latest and largest industrial project till date, MEGA@Woodlands, on 15 January 2016. MEGA@Woodlands is an eight-storey ramp-up/flatted industrial building for B1 clean and light, and B2 general industry comprising 517 units, each from 1711 sq ft. It offers mega specifications and amenities which include a Sky Lounge comprising a first-of-its-kind dedicated business center featuring meeting rooms of various capacities and gym with shower facilitiies, three sky gardens with jogging trail and outdoor fitness stations. It is located along Woodlands Avenue 12 at approximately 10 minutes' walk from Admiralty MRT Station and offers excellent transport connectivity via Seletar Expressway and the future North-South Expressway. For more details on MEGA@Woodlands, please visit www.megawoodlands.com.sg.

 
24 Dec 2015
Wee Hur acquires property in Brisbane CBD for long term investment

Wee Hur acquired, through a wholly-owned subsidiary, an office building and an adjoining piece of land with a total land area of 5,478 sqm in the North Quarter Precinct CBD of Brisbane, Australia for a total consideration of A$63 million (approximately S$64 million) with the intention for long term investment.

 
26 Jun 2015
Wee Hur enters Forbes Asia’s 200 Best under a Billion for 2015
 

Wee Hur made it to Asia’s 200 Best under a Billion, a list of outstanding companies announced by Forbes Asia.  Wee Hur is among just six companies from Singapore to make it to this list.  These 200 companies were selected among thousands from Asia Pacific. To qualify to enter this list, the companies must have annual revenue of between $5 million and $1 billion. They are also screened for earnings growth, sales growth and return on equity in the past 12 months and over 3 years. This accolade is a testimony of the financial performance Wee Hur has achieved over the past few years as the Group evolved into an integrated property developer and builder with comprehensive development and construction capabilities. Wee Hur has also made it to the Asia's 200 Best under a Billion for 2013.

 
31 Mar 2015
Wee Hur completes acquisition of three land parcels in Brisbane

Wee Hur’s three wholly-owned Australian subsidiaries have completed the acquisition of the three plots of land at Woolloongabba, Brisbane, Australia for a purchase consideration of approximately A$51.3 million (approximately S$55.2 million).  As mentioned in an announcement in December 2014, the Group will, in due time, acquire an additional 2,194 square meters bringing the total acquisition amount to A$56.5 million (approximately S$60.8 million) and the total area to 1.91 hectares.

 

2 Feb 2015
Termination of JV Agreements pertaining to proposed investments in Huai’an

The JV agreements pertaining to the proposed investments in property development projects in Huai’an, Jiangsu Province have been terminated on 2 February 2015 as the proposed investment did not take off.

 
24 Dec 2014
Wee Hur acquires land in Brisbane for A$51.3 million

In December, Wee Hur acquired a 1.7 hectare plot of land in Brisbane for approximately A$51.3 million (approximately S$55.2 million) through its wholly-owned Australian subsidiary, Wee Hur (Buranda) Pty Ltd, marking the Group's first foray into property development in Australia. It will acquire an additional 2,194 square meters of land for A$5.2 million (approximately S$5.6 million) at a later date, bringing the total acquisition amount to A$56.5 million (approximately S$60.8 million) and the total land area to 1.91 hectares. The plot of land is located at Woolloongabba, suburb of Brisbane. The Group intends to use the land for a mixed-use development comprising residential, retail and office units. The development will be carried out in several phases and construction is expected to commence in the third quarter of 2015.

 
Wee Hur awarded BCA Quality Mark "Star" Rating for Urban Residences

Urban Residences, a residential development project developed and constructed by Wee Hur, was awarded the Quality Mark "Star" rating for both the Developer and Builder categories by the Building and Construction Authority of Singapore. The "Star" rating is the highest rating under the Quality Mark Tiered Rating system. The Tiered Rating System for Quality Mark recognizes developers and builders for achieving quality excellence and distinguishes developers and builders who have achieved quality excellence beyond the high minimum standard specified in the QM scheme.

 

Wee Hur awarded S$157.7-million public housing building project in Punggol West

Wee Hur Construction Pte Ltd was awarded a S$157.7 million public housing building works project from HDB. This project involves the construction of ten residential blocks, a multi-storey car park, linkways, roof gardens, driveways, service roads and landscaping works at Punggol West. This mega precinct, named Matilda Court, includes a commercial block which houses shops, eateries and supermarket, and other communal facilities. This Punggol West project will commence in October 2014 and is expected to complete in 2017.

 

Wee Hur Development Pte Ltd secured land parcel at Woodlands Avenue 12

Wee Hur Development Pte Ltd secured a land parcel at Woodlands Avenue 12 for S$76.9 million. The group intends to develop this 39,229 M2 land parcel with the permissible GFA of 98,072 M2 into an industrial development comprising multi-users strata titled units. The tenure of the land is 30 years.

 

Proposed JVs in Real Estate projects in Huai'an, Jiangsu, PRC

On 22 April 2014, Wee Hur entered into a non-binding MOU with four individuals in relation to a proposed investment of 37% stake in two projects in Huai'an, Jiangsu, PRC: an on-going mixed-use development project consisting of retail, office and residential properties ("Project 1") and a new proposed mixed-use development project ("Project 2"). Subject to the terms and conditions in the Definitive Agreements, Wee Hur shall invest RMB45 million in Project 1 for a 37% stake and RMB75 million in Project 2 for a 37% stake.

 

Wee Hur awarded S$103.6-million public housing building project in Sengkang

In January 2014, Wee Hur Construction Pte Ltd was awarded a S$103.6 million public housing building works project from HDB. This project covers the construction of four residential blocks and a multi-storey car park at Sengkang Neighbourhood 4. This 727-unit precinct, named Fernvale Riverwalk, will come with shops, eating house, supermarket, childcare centre and other communal facilities. Other construction works within the contract includes the construction of green roof on the car park block, linkways, service roads, external landscaping and minor sewers and roadside drains. This project will commence in February 2014 and is expected to complete in approximately 3 years. 

 

Wee Hur ventures into workers’ dormitory business through new JV

In October 2013, Wee Hur set up a wholly-owned subsidiary, Wee Hur Dormitory Pte Ltd, with the intention to hold a 60% stake in a joint venture company, Active System Engineering Pte Ltd. Active System has recently been awarded by JTC to build and operate a 16,800-bed workers’ dormitory at Tuas South Avenue 1 to cater to foreign workers in the marine, manufacturing and process industries. Construction of the dormitory will commence soon and is expected to complete in 2H2014. At a capacity of 16,800 beds, this proposed workers’ dormitory will open a sizeable new recurring revenue stream for the Group. 

 

Update on en bloc purchase of Thomson View

The High Court of Singapore nullified the en bloc sales of Thomson View in a written judgement released on 3 September 2013. The Group’s subsidiary, Wee Hur-Lucrum Pte Ltd is examining the grounds of decision stated and shall await legal advice before deciding on its next course of action under the terms of the en bloc purchase contract. Wee Hur will inform shareholders of any are further developments on this matter. 

 

Wee Hur enters Forbes Asia’s 200 Best under a Billion for 2013

In August 2013, Forbes Asia announced its Asia’s 200 Best under a Billion list. Wee Hur has made it into this prestigious list, among just a few other companies from Singapore. These 200 companies were selected among thousands from Asia Pacific. To qualify to enter this list, the companies must have annual revenue of between $5 million and $1 billion. They are also screened for earnings growth, sales growth and return on equity in the past 12 months and over 3 years. This accolade is a testimony of the growth Wee Hur has achieved over the past few years as the Group transformed into an integrated property developer and contractor with comprehensive development and construction capabilities. 

 

Wee Hur extends date to obtain Order for Sale for Thomson View by six months

On 3 June 2013, Wee Hur offered a six months’ extension to the consenting owners of Thomson View to obtain an Order of Sale approving the collective sale of Thomson View condominium. The tender for the collective sale of Thomson View was awarded on 5 September last year. However, some owners of Thomson View have filed objections, and the collective sale is now pending the approval of the High Court. The Group understands that the High Court case is set for a 5 days’ hearing from 24 June 2013. The extension of the deadline, originally 4 June 2013, accords more time to the consenting owners to settle the court case. 

 

Wee Hur – a Top 100 Singapore Brand

Brand Finance released its Top 100 Singapore Brands in May 2013. Wee Hur is valued at US$27 million (approx. S$34.3 m) at 88th position. It has improved in ranking and value as compared to last year (91st and US$21 million). To be recognized as a Top 100 Singapore Brand and to have improved in brand ranking demonstrates the progress Wee Hur has made. 

 

Wee Hur posts net profit of S$1.8 million for 1QFY2013

Wee Hur recorded a net profit of S$1.8 million for its 1QFY2013 ended 31 March 2013. Revenue declined 29% to S$52.1 million mainly due to the absence of major construction projects in their matured stage. A lower gross margin in the Group’s construction business also brought about a significant lower gross profit of S$4.4 million, a decrease of 41%. As a result of the lower revenue and lower gross margins, the Group’s net profit dropped 61% to S$1.8 million. As at 31 March 2013, the Group’s construction order book stood at S$474.5 million with projects through to FY2015. In the coming quarters, apart from recognizing revenue from its construction activities, the Group will also progressively recognize revenue from its residential property development projects according to percentage completion of their construction, in particular, from fully-sold Parc Centros. 

 

Wee Hur’s FY2012 net profit surges 754.0% to S$92.9 million

Wee Hur recorded a 754% increase in net profit to S$92.9 million on the back of a 146% surge in revenue to S$465.7 million for its FY2012 ended 31 December 2012. The higher revenue was mainly due to its industrial property development, Harvest@Woodlands attaining its Temporary Occupation Permit (“TOP”) in October 2012, allowing the recognition of revenue and profit. With its outstanding set of result, the Group is proposing a final dividend of 1 Singapore cent and special dividend of 2 Singapore cents per share. Including the 1 cent per share interim dividend given out during its HY2012, the total dividend for FY2012 will amount to 4 cents per share. 

 

Wee Hur’s construction arm, Wee Hur Construction, sealed S$150 million Parc Centros construction contract

In December 2012, Wee Hur’s construction arm, Wee Hur Construction Pte Ltd, secured the building construction contract of S$150 million for the Group’s residential development project, Parc Centros. Wee Hur Construction will undertake the construction of the condominium which comprises eight 16-storey blocks with a total of 618 units, two basement car parks, tennis court, swimming pools and clubhouse facilities, and the related piling works, building works, mechanical and electrical and external works. 

 

Wee Hur won the bid for Thomson View condominium

Wee Hur announced that it won the bid for Thomson View condominium for a price of S$590 million in a consortium with Lucrum Capital. This is the largest private residential collective sale site since 2007. Thomson View is a 99 year leasehold residential site located in District 20 along Upper Thomson Road with a land size of approximately 540,314 sq ft and is well known for its commanding panoramic views of the Central Business District Skyline and Nature Reserves of MacRitchie & Lower Pierce Reservoirs. Under Master Plan 2008, Thomson View Condominium is zoned for residential use with a gross plot ratio of 2.1 and maximum height of up to 24 storeys. 

 

Wee Hur launching its largest residential development, Parc Centros.

Wee Hur announced that it will launch its largest residential development to date on 21 July 2012. The development, Parc Centros will be a 618-unit condominium near Punggol MRT station and also the first condominium to offer 5-bedroom apartments in the surrounding area of Punggol. The wide selection of units from 1-, 2-, 3-, 4- to 5- bedders in addition to penthouse units will cater to the masses, especially the families. The units are priced at an average of S$950 psf which is attractive despite its prime location. 

 

Wee Hur secures S$35 million contract for office building project at Changi Business Park

Wee Hur announced the award of a management contract worth S$35 million, for an office building project at Changi Business Park (“the Contract”) from Ascendas (Tuas) Pte. Ltd on 10 January 2012. Wee Hur’s wholly-owned subsidiary, Wee Hur Construction Pte. Ltd will undertake the design, construction, completion and maintenance of the office building with a basement carpark at Changi Business Park. The Contract is due to commence in January 2012 and expected to be completed in August 2013. 

 

Wee Hur secured land parcel at Punggol Central/Punggol Place for S$206.2 million

In December 2011, Wee Hur Development Pte Ltd won the tender for a 99-year lease land parcel located at Punggol Central/Punggol Place for S$206.2 million. Ideally located adjacent to Punggol Town’s transport hub comprising Punggol MRT & LRT stations and bus interchange, this land parcel is surrounded by other amenities such as schools and a future shopping mall. Measuring about 18,000 sq m, this land parcel comes with a maximum gross floor area (GFA) of about 54,000 sq m, which can yield between 550 and 600 condominium units. The Group intends to launch this property development in second half of 2012. This is Wee Hur’s first successful tender of land for residential property development. The costs of this acquisition and development will be financed by internal funds and bank borrowings. 

 

Wee Hur awarded S$159.3-million public HDB project

Wee Hur Construction Pte Ltd was awarded a S$159.3 million building works project from HDB on 28 November 2011. The scope of this project covers the construction of eight residential blocks, a basement car park and communal facilities such as pavilions, playgrounds, fitness stations and multi-purpose courts at Sengkang Neighbourhood 4, forming a precinct named Fernvale Riverbow comprising 1,154 dwelling units. Other works within the contract includes the construction of sub-stations and service roads, and external landscaping and minor sewers. This project will commence on 19 Dec 2011, contributing to the Group’s revenue mainly in the financial years from 2012 to 2014. 

 

Wee Hur secured S$57.0-million Fusionopolis design and build project

In October 2011, Wee Hur Construction Pte Ltd was awarded a S$57.0 million design and build project from HSBCIT as trustee of Ascendas Real Estate Investment Trust (A-REIT). The scope of the project covers the design and build of a business park and office mixed use development comprising two blocks of six-storey building with two levels of common basement carpark. The project will commence in end-October 2011 and is expected to complete in 3Q2013. Revenue from the project will come in mainly in 2012.

 

Wee Hur secured S$26.2-million Nepal Hill building project at one north

In July 2011, Wee Hur Construction Pte Ltd was awarded a S$26.2 million design and build project from HSBCIT as trustee of Ascendas Real Estate Investment Trust (A-REIT). The scope of the project covers the design and build of a 3-storey training block with a lower ground level and outdoor carpark, a single-storey club house block with a rooftop recreation deck and 10 black and white conservation bungalows, each with an outhouse structure. The contract commencement date is 1 August 2011 and is expected to complete in 1Q2013. Revenue from the project will come in mainly in 2012. 

 

Wee Hur awarded S$109-million public housing building project

Wee Hur Construction Pte Ltd was awarded a S$109 million building works project from HDB on 2 June 2011. The scope of this project covers the construction of eight residential blocks, an electrical substation, a multi-storey car park, minor sewer services and landscaping works at Yishun Neighbourhood 4 forming a precinct named Vista Spring @ Yishun comprising 696 dwelling units. The project will commence on 23 June 2011. Revenue from the project will come in mainly in the financial years of 2012 to 2014. 

 

All units of Harvest@Woodlands sold

The Group is pleased to announce that it has sold all the units at its first industrial property development project, Harvest@Woodlands. The Group developed this project independently after acquiring the land in July 2009. Harvest@Woodlands is a 10-storey, multiple-user industrial strata-titled development at the junction of Woodlands Avenue 4 and Admiralty Road West. 

 

Wee Hur Construction awarded HDB building project amounting to S$64.88 million

Wee Hur Construction Pte Ltd was awarded a S$64.88 million building works project from HDB on 25 January 2011. The scope of this project covers the building works at Jurong West Neighbourhood 2 in a precinct named Boon Lay Grove which comprises 450 residential units. The building works include the building of four residential blocks, a multi-storey car park with green roof, an electrical sub-station block, minor sewer services and services roads, driveways and drains. The project will commence on 15 February 2011. This contract will contribute to the Group’s revenue from FY2011 to FY2013. 

 

Options to purchase properties at 39 Kim Keat Road & 1/A/B Lorong Ampas

On 14 December 2010, the Group received the options to purchase the freehold property at 39 Kim Keat Road and the freehold property at 1/A/B Lorong Ampas for S$8.3 million and S$6.7 million respectively. These two properties are adjoining plots of land with two blocks of light industrial buildings on each site. The properties are located at a well-developed and established area with good access to public transport facilities and express ways. The Group intends to re-develop the properties at an appropriate time. The completion of the acquisition is subject to the obtaining of approval from Wee Hur shareholders at an extraordinary general meeting to be convened at later date. The purchase will be funded by internal funds as well as bank borrowings. 

 

All units of Villas@Gilstead sold

The Group is pleased to announce that it has sold all the units at its residential property development project, Villas@Gilstead. The Group acquired 70% of this project in January 2010 to jump start into residential property development. This residential development comprises 18 units of strata titled landed housing at Prime District 11. 

 

Wee Hur Development Pte Ltd secured land parcel at Kaki Bukit Ave 4

In September 2010, Wee Hur Development Pte Ltd secured a land parcel at Kaki Bukit Ave 4 for S$76.8 million. The Group intends to develop the land into an industrial development comprising of strata titled units. The costs of this acquisition and development will be financed by internal funds and bank borrowings. 

 

Wee Hur launches Harvest@Woodlands

Industrial strata-titled units of Harvest@Woodlands are now up for sale. A 10-storey, multiple-user development, Harvest@Woodlands is located within Woodlands Industrial Park E5, at the junction of Woodlands Avenue 4 and Admiralty Road West.The building is designed to be energy-saving and eco-friendly. Each unit is designed to be column-free layout and well-ventilated with private washroom. Ceilings are high and driveways are wide. Ramp-up units come with private and exclusive parking and direct loading at the doorstep. Interested parties, please call 83632555. 

 

Proposed Acquisition of 459 Macpherson Road

On 21 July 2010, Wee Hur exercised the option to purchase the property at 459 Macpherson Road for S$3.85 million. Subject to obtaining all the necessary approvals, the Group intends to redevelop this property for investment purpose. The purchase and cost of redevelopment will be financed by internal funds and bank borrowings. 

 

Proposed Purchase of 10 Lorong Ah Soo

On 1 June 2010, Wee Hur’s wholly-owned subsidiary, Wee Hur (Paya Lebar) Pte Ltd has exercised the option to purchase the property located at 10 Lorong Ah Soo for S$15.2 million. Subject to obtaining all the necessary approvals from the authorities, the Group intends to redevelop the property. The costs of the above purchase and redevelopment will be financed by internal funds and bank borrowings. 

 

Wee Hur secured S$103.6 million maiden project from CapitaMall Trust

In March 2010, Wee Hur secured a S$103.6 million maiden project from CapitaMall Trust, Singapore’s largest real estate investment trust by asset size and market capitalisation. This project involves the construction of a five-storey shopping and entertainment complex boasting Singapore’s first Olympic-size ice skating rink. 

 

Wee Hur Development Pte Ltd secured land parcel at Woodlands
In July 2009, Wee Hur Development Pte Ltd secured a land parcel at Woodlands Industrial Park E5 for S$22.9 million. The Group intends to develop the land into an industrial development comprising strata titled units. The secure of this land spearheaded the Group in its foray into property development.