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 Construction & Transport Co Pte Ltd (“Koon”) was incorporated and raised capital. With this boost in funds, it was able to increase manpower and equipment allowing it to collaborate more closely with international firms. This in turn allowed it to gain technical expertise. 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 engineering firm. This joint venture was very successful. 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.
Koon Holdings Limited (the “Company”), an investment holding company, was incorporated specifically for listing on the Australian and Singapore Stock Exchanges. Koon is the main operating company of the Group. The Company equipment is owned by separate entities:
- Entire Engineering Pte Ltd (“Entire”) owns and manages the Group's land-based plant and equipment such as cranes and trucks; and
- GEMS Marine Pte Ltd (“GEMS”) owns and manages the Group's seaborne assets such as barges and tugs.
