Image
The $6-billion Resorts World at Sentosa. Artist's impression of Resorts World at Sentosa

WORK IS slowing down in many places but not at Design Studio Manufacturer

Just 6 days after announcing that it had ended 2008 with an order book of $195 million, Design Studio yesterday evening (Jan 20) said its 45%-owned joint venture had clinched a $48-million contract at the casino of the upcoming Resorts World at Sentosa.

This is the second contract that the JV has secured from  Singapore’s two Integrated Resorts.

Resorts World at Sentosa will be a collection of resorts and attractions with a plethora of fun-filled offerings for the entire family.

Spanning 49 hectares, this S$6 billion mega-resort will be home to Southeast Asia’s first and only Universal Studios theme park, the world’s largest oceanarium and the region’s first integrated destination spa.

The joint venture, DDS Contracts & Interior Solutions Pte Ltd, that clinched the $48-million contract is an interior fit-out specialist company offering total solutions to fitting-out projects.

Image
Bernard and Mohannad: Shaking hands on a deal to form
a JV last April. Picture by Goh Chee Kiong
DDS has been appointed as the Nominated Sub-Contractor by Kajima Tiong Seng Joint Venture.

DDS is to provide ID fitting-out works and services including the supply of gaming
furniture to the 15,000 square meters casino.

DDS is a joint venture between Depa, the world’s largest interior contracting company, and Design Studio.

The joint venture targets interior contracts in the hospitality and commercial segments within Singapore, Malaysia, Thailand, Indonesia and Vietnam.

Image
Design Studio trades at 4.5X its FY07 earnings.
Financial impact on FY09/10

Mr. Bernard Lim, CEO of DDS and Design Studio, said, “Resorts World at Sentosa will transform the landscape of Singapore when completed. We are proud to be associated with this exciting destination and look forward in bringing our expertise to the project.

“Our ability to secure good quality projects speaks volume of the Company’s capabilities.  We would build on this track record and continue to explore similar high end projects within the regions.”

Mr. Mohannad Sweid, CEO of Depa, commented, “DDS has made outstanding progress in Singapore market and we believe that it will continue to win selected landmark hotel and commercial projects in the future. Like Depa, DDS is establishing a reputation as a leading player that prides itself in its ability to work on selected projects and deliver them on time and on budget.”

The new contract is to contribute positively to Design Studio’s and Depa’s financial performance in FY2009 / 2010.

Recent story: DESIGN STUDIO: $195-m order book on hand


You may also be interested in:


You have no rights to post comments

Counter NameLastChange
AEM Holdings2.750-0.030
Avi-Tech Electronics0.250-0.005
Best World1.790-0.020
Broadway Ind0.0890.005
China Sunsine0.385-0.005
ComfortDelGro1.4000.010
Delfi Limited1.040-0.010
Food Empire1.410-0.040
Fortress Minerals0.260-
Geo Energy Res0.415-
GSS Energy0.029-
Hong Leong Finance2.540-
Hongkong Land (USD)3.3500.090
InnoTek0.425-
ISDN Holdings0.3500.005
ISOTeam0.035-0.001
IX Biopharma0.043-
Jiutian Chemical0.025-0.001
KSH Holdings0.240-
Leader Env0.053-
Medtecs Intl0.141-
Nordic Group0.350-
Oxley Holdings0.092-0.001
REX International0.127-
Riverstone0.730-0.025
Sinostar PEC0.140-
Southern Alliance Mining0.585-
Straco Corp.0.510-0.005
Sunpower Group0.210-
The Trendlines0.086-
Totm Technologies0.026-0.001
Uni-Asia Group0.865-0.035
Wilmar Intl3.3000.060
Yangzijiang Shipbldg1.680-0.010
 

We have 949 guests and no members online

rss_2 NextInsight - Latest News