Company Heritage
Koon Holdings Limited, an investment holding company, was incorporated (on 9 April 2003) specifically for listing on both the Australian Stock Exchange (on 11 July 2003) and Singapore Stock Exchange (on 21 July 2003). Koon Construction & Transport Co Pte Ltd (‘Koon”) is the main operating company of the Group. For taxation and other reasons, company equipment is owned by separate entities: Entire Engineering Pte Ltd (“Entire”) owns and manages all land-based plant and equipment such as cranes and trucks; and GEMS Marine Pte Ltd (“GEMS”) owns and manages the seaborne assets such as barges and tugs.
Koon began in 1975 as a small sole proprietorship transporting rocks and stones for major international construction companies. Ability brought early success. Koon determined that it wanted to capitalise on this success and move up the value chain.
In 1979, Koon was incorporated and raised significant capital. With this boost in funds, it was able to collaborate more closely with international firms. Koon focused on reclamation and related works.
In 1985, it went into a joint venture with a major marine engineering company, Zinkcon, to form Koon-Zinkcon which specialized in the protection of reclaimed shorelines. Zinkcon is now part of Royal Boskalis Westminster nv (“Boskalis”), a major international dredging and offshore engineer. This joint venture was very successful and it was therefore decided to make it permanent and was incorporated in 1997 as Koon-Zinkcon Pte Ltd (“KZ”). Whilst Koon still owns 50% of KZ, it is now being managed by persons independent of Koon. Accordingly it is treated as an investment and only dividend accounted.
Company Activities
Koon has grown very significantly since 1977 and is now arguably one of the largest Singapore domestic civil engineering, reclamation and shore protection specialists. Koon is registered under the A1 category in civil engineering with the Building and Construction Authority (BCA). It is also certified in Integrated Management System which covers Quality (ISO 9000), Environmental (ISO 14000) and Occupational Health and Safety (OHSAS 18000).
Normally, Koon operates as a main contractor on many of its own projects. On larger scale projects, particularly those on reclamation, Koon participates in joint ventures with other larger partners due. This is mainly due to project requirement reasons - few groups have all the required resources to win and execute projects alone.
During the last two decades
Koon has successfully completed a list of reclamation projects in Singapore which had contributed to the increase of Singapore’s land by about twenty percent. These completed projects now form the new coastal lines of Singapore. They are at the:
NORTH – Punggol
SOUTH – Marina Bay, Tanjung Rhu, Sentosa Cove & Pasir Panjang
EAST – Changi
WEST – Jurong Island & Tuas
Over the last couple of years, Koon had executed a higher percentage of water, sewage and power projects. Among the more notable ones are the Bedok Water and Ulu Pandan Water Reclamation Plants. Currently, our $118M Serangoon Dam project is still in progress.
In addition, infrastructure projects have also become an important driver for Koon. In recent years, we had completed works like Singapore Airshow, Pang Sua Canal and Meranti Infrastructure. Currently we are executing the Construction Industries Park for BCA and Infrastructure 1 Gardens by the Bay for the National Parks Board (NParks).
