It plans to do so partly by forming a new financing arm for infrastructure.
Government-backed infrastructure firm Surbana Jurong is eyeing to raise its revenue from $1.3b to $3.8b starting 2018, CEO Wong Heang Fine said in a Money FM interview. "Acquisitions will still be one of our focus. Besides that, we are also looking at partnerships. As you know we have partnered with a lot of international companies," he added.
He said the company has grown after expanding to 40 countries. “First, we have acquired a number of great companies the first one is in Australia called SMEC, that started in 1949, way before Surbana Jurong started. They built some of the greatest and iconic structures in the world. Last year we bought [several] engineering companies in Australia that does complex structures, and locally, we bought KTP Consultants as well.”
Moreover, the company will set up a special financial arm called SJ Capital this year "to tap into these opportunities that are opening up for infrastructure financing." When contacted, the company declined to disclose other details related to SJ Capital.
He added that the company is looking to work on the high speed rail to Kuala Lumpur and Changi Airport’s Terminal 5 (T5) project as well.
According to Fine, the merger of HDB’s Surbana International and JTC’s technical arm Jurong International has grown its revenue from $400m when it first started to $1.3b. It also increased its headcount from 3,200 two years ago to 13,500 staff in 2017.
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