Samsung C&T Ranks 1st for 7th Consecutive Year in Construction Capability Assessment
Contractor places 1st in three assessment categories: construction performance, management evaluation, and credit rating
A view of the State Courts of Singapore, constructed by Samsung C&T Engineering & Construction Group, which received a ¡°STAR¡± rating, the highest rating in CONQUAS. (Photo: Samsung C&T)
Samsung C&T E&C placed 1st for seven years in a row in the ¡°2020 Construction Capability Assessment,¡± released by the Ministry of Land, Infrastructure and Transport (MOLIT). Every year, MOLIT has announced the Construction Capability Assessment, based on the construction performance, management status, technological ability, and credit rating of all the construction companies nationwide in order to help procurement departments choose their appropriate construction companies.
In the ¡°2020 Construction Capability Assessment,¡± Samsung C&T ranked 1st with 20.846.1 trillion won in civil engineering construction. This value is 8.45 trillion won higher than the 12.395.3 trillion won Hyundai E&C earned to rank 2nd. It represents a significant year-on-year increase gap with the first runner-up contractor.
Out of the four assessment categories, Samsung C&T ranked 1st in three sectors: construction performance, management evaluation, and credit rating.
In the construction performance sector, Samsung C&T ranked 1st in civil engineering construction, based on its excellent construction capabilities. I
n particular, the contractor showed outstanding capability in the civil engineering specialties of dams, airports, and subways, as well as exhibiting a large gap with the first runner-up in mining and manufacturing industry construction.
Besides construction performance, Samsung C&T¡¯s profit continued to grow through its management strategy focusing on profitability based on the solid financial structure of a high credit rating and low debt ratio.
Based on it, Samsung C&T recorded remarkably high figures compared to other construction companies in the management evaluation and credit rating sectors.
The assessment was conducted on 66,868 construction companies, a number which accounts for 89% of the nation¡¯s total 75,523 construction companies.
Samsung C&T Gets Highest Rating in Singapore¡¯s CONQUAS
The State Courts of Singapore constructed by Samsung C&T Engineering & Construction (E&C) Group have received a ¡°STAR¡± rating, the highest rating in CONQUAS, the quality assessment system for the Building & Construction Authority (BCA) of Singapore.
CONQUAS, introduced by Singapore in 1989, serves as a national standard for assessing the quality of building projects.
It assesses three facets – architectural works, structural works, and mechanical & electrical (M&E) works – and grants a ¡°STAR¡± rating when the final assessment score is above 95.
By introducing CONQUAS, the Singaporean government has effectively maintained control over the quality of buildings. Also, CONQUAS has been used as an example by various countries such as the U.K., Hong Kong, Australia, and Malaysia for quality assurance.
The State Courts of Singapore constructed by Samsung C&T is located near Chinatown in Singapore¡¯s downtown area. It is the tallest public building in Singapore at 186 meters and contains 35 stories.
It consists of two buildings - the Court Tower and the Office Tower - and its exterior design looks like a big library.
The construction of the State Courts of Singapore was not an easy project. It required installing 2,700 concrete exterior panels on the outer walls of the courts that weighed from 2.5 to 6 tons and building 39 link bridges between the two buildings.
Also, its location in the middle of a congested downtown made construction more difficult.
However, Samsung C&T smoothly solved the problems through active communications with the interested stakeholders.
Through the project, Samsung C&T did all it could to improve productivity and efficiency as well as succeeded in quality assurance and safety management, so it could prove its strength in Singapore¡¯s construction market.
¡°Samsung C&T¡¯s efforts for quality assurance were recognized by the Singaporean government office that is very strict in quality.
Also, in the future, the company could get a more favorable qualification when participating in projects not only in Singapore but also in countries that refer to CONQUAS,¡± a Samsung C&T official said.