Singapore Infrastructure Report

Published 02 February 2015

  • 109 pages
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  • Includes 3 free updated quarterly reports
 
$1,295.00
Singapore Infrastructure Report

BMI View: We continue to expect construction and infrastructure growth in Singapore to moderate over the 2015-2020 period. Real growth for the construction sector is forecasted to moderate slightly from 4.0% in 2015 to 3.9% in 2020, while real growth for the infrastructure sector is expected to fall from 7.0% in 2015 to 6.2% in 2020. This moderation is primarily due to declining housing demand, longer construction periods for planned infrastructure projects and a poor export outlook, which could curb investment in non-residential buildings.

Key Trends And Developments

  • In January 2015, Senior Minister of State For National Development Lee Yi Shyan announced that the Building and Construction Authority (BCA) estimates that between SGD29bn and USD36bn worth of construction projects will be awarded in 2015. While the BCA expects this to maintain momentum in the construction sector, the estimate is notably below the SGD38bn figure seen in 2014.

  • The BCA projects that the private sector's contribution to the construction sector will retreat to between SGD11-15bn in 2015, with the public sector contributing between SGD18bn and SGD21bn, or approximately 60 percent. In particular, private residential construction looks to be in for a weak performance, as slipping real estate prices and high levels of supply begin to weigh. In line with our Country Risk team's expectations for an ongoing correction in the market as interest rates begin to rise over the coming quarters, we believe that this trend will likely remain in play throughout the entirety of 2015.

  • In December 2014, Jewel Changi Airport Trustee (JCAT) started building a mixed-use complex, called Jewel Changi Airport, which will be developed in front of the Changi Airport's Terminal 1 in Singapore. JCAT is a joint venture (JV) between Changi Airport Group and CapitaMalls Asia. The project will comprise hotel, retail offerings and facilities for airport operations. The complex will have five floors above...

Table of Contents

BMI Industry View
7
SWOT
8
Infrastructure SWOT
8
Industry Forecast
10
Construction And Infrastructure Forecast Scenario
10
Table: Construction And Infrastructure Industry Data (Singapore 2012-2017)
10
Table: Construction And Infrastructure Industry Data (Singapore 2018-2023)
11
Table: Factbox - Key Milestones In Singapore's Infrastructure Masterplan
17
Transport Infrastructure - Outlook And Overview
18
Table: Transport Infrastructure Industry Data (Singapore 2012-2017)
18
Table: Transport Infrastructure Industry Data (Singapore 2018-2023)
19
Table: Competitiveness Of Singapore's Infrastructure
21
Table: Factbox - Key Infrastructure Milestones In Singapore's 2013 Land Transport Masterplan
22
Table: Factbox - Singapore Mass Rapid Transit Lines To Be Completed Between 2021-2030
23
Table: Factbox - Thomson Line Project Stages
25
Table: Changi Airport - Factbox
34
Table: Major Projects - Transport
36
Energy And Utilities Infrastructure - Outlook And Overview
41
Table: Energy And Utilities Infrastructure Data (Singapore 2012-2017)
41
Table: Energy And Utilities Infrastructure Data (Singapore 2018-2023)
41
Table: Gas Pipelines Into Singapore
44
Major Projects Table - Energy & Utilities
49
Table: Major Projects - Energy and Utilities
49
Residential/Non-Residential Building - Outlook And Overview
52
Table: Residential and Non-Residential Building Industry Data (Singapore 2012-2017)
52
Table: Residential and Non-Residential Building Industry Data (Singapore 2018-2023)
52
Major Projects Table - Residential/Non-Residential Construction And Social Infrastructure
60
Table: Major Projects - Residential/Non-Residential Construction And Social Infrastructure
60
Industry Risk Reward Ratings
62
Singapore Infrastructure Risk/Reward Index
62
Rewards
62
Risks
63
Asia Pacific Infrastructure Index
64
Developed Markets: Favoured
65
Giants Of Asia: Rewards Sizeable, Risks Sizeable
67
South East Asia: Environment Deteriorating Slightly
68
Table: Asia Pacific Infrastructure Risk Reward Index
70
Market Overview
71
Competitive Landscape
71
Table: EQS Data
71
Company Profile
73
Dragages Singapore
73
Hock Lian Seng Infrastructure Limited
75
Sembcorp Industries
78
Hyflux
84
Global Infrastructure Overview
90
Global Industry Overview
90
Table: Construction Industry Value, Real Terms, % Change
91
Table: BMI's Top 5 Markets
95
Methodology
97
Industry Forecast Methodology
97
Sector-Specific Methodology
98
Risk/Reward Index Methodology
102
Sector-Specific Methodology
103
Table: Infrastructure Risk/Reward Index Indicators
103
Table: Weighting Of Indicators
104

The Singapore Infrastructure Report features Business Monitor International (BMI)'s market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.

BMI's Singapore Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Singaporean infrastructure and construction industry.

Key Benefits

  • Benchmark BMI's independent infrastructure industry forecasts for Singapore to test other views - a key input for successful budgetary and planning in the Singaporean infrastructure market.
  • Target business opportunities and risks in the Singaporean infrastructure sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Singapore.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI’s key industry forecasts, views and trend analysis covering infrastructure and construction, regulatory changes, major investments and projects and significant national and multinational company developments. These are broken down into construction (social, commercial and residential), transport (roads, railways, ports, airports, etc), and energy & utilities (powerplants, pipelines and so on).

Industry SWOT Analysis

Analysis of the major strengths, weaknesses, opportunities and threats within the infrastructure and construction sectors and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (up to 2012) and forecasts to end-2024 for all key industry indicators, supported by explicit assumptions, plus analysis of key developments in the market and risks to the main forecasts. Indicators include:

Construction: Industry value (USDbn); contribution to GDP (%); total capital investment (USDbn); real growth (%).

Construction industry real growth forecasts (%) and industry value (USDbn) forecasts for industry sectors are split into Residential and Non-residential and Infrastructure sectors. Where the data is available for particular countries the infrastructure is further broken down into indicators for the transport subsectors of roads, railways, airports and ports and the energy and utilities sub-sectors of power plants and transmission grids, oil & gas pipelines and water infrastructure. This dataset is unique to the market.

The reports also include analysis of latest projects across the infrastructure sectors (transport, utilities, commercial construction).

BMI’s Infrastructure Risk Reward Index

BMI’s Risk Reward Index provides investors (construction companies, suppliers and partners) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and  demographic data points. These provide indices of highest to lowest appeal to investors, with each position explained.

Market Overview

An assessment of the competitive landscape and key challenges to entering the market. Details of the largest companies active in the sector across the sub-segments of the industry, including the key financial figures from some of the largest players in the sector.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Sources

The Infrastructure reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc