(Aug 7): There are early signs that a recovery in the local construction sector is underway. Quite a few construction and engineering companies have announced new contracts, and some are even reporting better numbers.

Earlier this year, Lian Beng Group announced its biggest construction project to date — a $435 million contract to develop an HDB industrial complex. In May, TTJ Holdings announced it had secured several new contracts that brought its order book to $166 million, up from $59 million as at March 8.

On July 31, construction company OKP Holdings announced that earnings had doubled for the six months ended June, to $10 million, owing to growth in both its maintenance and construction segments. On Aug 1, construction and property group Tiong Seng Holdings reported a 74.1% jump in earnings to $14.3 million, on the back of more construction work done.

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