This quarter BMI has introduced a new data series for infrastructure and its subsectors (transport and energy & utilities). This is an effort to address a significant deficiency in the availability of globally comparable, infrastructure-specific indicators and forecasts across a wide range of countries. BMI's new infrastructure data series enables users to quantify trends and growth patterns in the infrastructure sectors of the 35 main emerging and developed markets out of the 62 countries in BMI's infrastructure service.The construction industry in Singapore continued to show strong growth in 2009 despite the general impact of the global recession in the region. After a shaky start to the year, the country now appears to have reaffirmed its dominant position in the region. BMI forecasts real year-on-year (y-o-y) growth for the sector of 12.11% for 2009, taking the industry value to US$10.18bn for the year. This equates to construction as a percentage of GDP at 5.92%. A great deal of this growth is due to existing projects and as a result growth is expected to drop to just 1.75% in 2010. The industry is expected to increase in value over the forecast period to be worth an estimated US$14.19bn by 2014.Infrastructure projects were dominated by government initiatives around transport and power plants. As a mature market, the infrastructure sector as a percentage of total construction value was below that of the country's peers, accounting for just 11.38% compared with around 30% for other developed countries.Upgrade and expansion work to the country's rail system represents a major share of investment, with new contracts awarded in the last quarter topping the US$1bn mark, reaching a total value of US$1.26bn.Construction firms Alpine Bau GmbH, GS Engineering and Construction and Shanghai Tunnel Engineering have all been awarded contracts for work on the Downtown Metro Line.Singapore retained a strong grip on its position near the top of BMI's business environment ratings.While abrupt changes in construction industry real growth in developed countries such as Japan, Australia and Singapore caused significant fluctuations in their overall scores over 2009, the most recent quarter has seen Singapore register an impressive increase in its score for the Infrastructure Market indicator.Overall, the country scored 68.7, ranking it fourth in the region ' a huge increase from earlier in 2009 when it languished in the lower half of the table. In terms of project finance ratings the country also placed well, with an overall score of 72.6, putting it in third place behind Hong Kong and Australia.Singapore has emerged from the recent recession in a strong position thanks to its excellent country structure and tendering process. Along with other highly developed countries in the region, such as Japan and Australia, existing expertise and development has allowed Singapore to fight its way out of recession and retain its lead within the region. The government's commitment to transport development in the form of the country's railways is expected to aid the feasibility of future infrastructure projects, and despite recent uncertainties the country's property market has already seen signs of a new boom as speculators have driven investment in the commercial construction sector over the second half of 2009.

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Singapore Infrastructure Report Q1 2010
Published on November 2009
Report Summary
This quarter BMI has introduced a new data series for infrastructure and its subsectors (transport and energy & utilities). This is an
effort to address a significant deficiency in the availability of globally comparable, infrastructure-specific indicators and forecasts
across a wide range of countries. BMI's new infrastructure data series enables users to quantify trends and growth patterns in the
infrastructure sectors of the 35 main emerging and developed markets out of the 62 countries in BMI's infrastructure service.
The construction industry in Singapore continued to show strong growth in 2009 despite the general impact of the global recession in
the region. After a shaky start to the year, the country now appears to have reaffirmed its dominant position in the region. BMI
forecasts real year-on-year (y-o-y) growth for the sector of 12.11% for 2009, taking the industry value to US$10.18bn for the year.
This equates to construction as a percentage of GDP at 5.92%. A great deal of this growth is due to existing projects and as a result
growth is expected to drop to just 1.75% in 2010. The industry is expected to increase in value over the forecast period to be worth an
estimated US$14.19bn by 2014.
Infrastructure projects were dominated by government initiatives around transport and power plants. As a mature market, the
infrastructure sector as a percentage of total construction value was below that of the country's peers, accounting for just 11.38%
compared with around 30% for other developed countries.
Upgrade and expansion work to the country's rail system represents a major share of investment, with new contracts awarded in the
last quarter topping the US$1bn mark, reaching a total value of US$1.26bn.
Construction firms Alpine Bau GmbH, GS Engineering and Construction and Shanghai Tunnel Engineering have all been awarded
contracts for work on the Downtown Metro Line.
Singapore retained a strong grip on its position near the top of BMI's business environment ratings.
While abrupt changes in construction industry real growth in developed countries such as Japan, Australia and Singapore caused
significant fluctuations in their overall scores over 2009, the most recent quarter has seen Singapore register an impressive increase
in its score for the Infrastructure Market indicator.
Overall, the country scored 68.7, ranking it fourth in the region ' a huge increase from earlier in 2009 when it languished in the lower
half of the table. In terms of project finance ratings the country also placed well, with an overall score of 72.6, putting it in third place
behind Hong Kong and Australia.
Singapore has emerged from the recent recession in a strong position thanks to its excellent country structure and tendering process.
Along with other highly developed countries in the region, such as Japan and Australia, existing expertise and development has
allowed Singapore to fight its way out of recession and retain its lead within the region. The government's commitment to transport
development in the form of the country's railways is expected to aid the feasibility of future infrastructure projects, and despite recent
uncertainties the country's property market has already seen signs of a new boom as speculators have driven investment in the
commercial construction sector over the second half of 2009.
Table of Content
Executive Summary ......5
Market Overview ............6
Singapore .... 6
Global Overview ............8
Singapore Infrastructure Report Q1 2010 Page 1/4

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New Infrastructure Data Series ' Some Key Findings ........ 8
Governments To The Rescue: The Global Surge In Infrastructure Spending .. 12
Table: Infrastructure Stimulus Plans List, Correct As Of July 2009 .......... 13
SWOT Analysis ............16
Singapore Infrastructure Industry SWOT . 16
Singapore Political SWOT ................... 17
Singapore Economic SWOT ................. 18
Singapore Business Environment SWOT .. 19
Major Infrastructure Developments And Key Projects ..20
Transport Infrastructure Overview ........... 20
Industry Forecast: Transport Infrastructure .. 22
Table: Singapore: Transport Industry Forecast ............... 22
New And Ongoing Projects .................. 24
Airports 24
Ports .... 24
Road Networks ............. 25
Rail Networks .............. 25
Table: Singapore ' Major Infrastructure Projects ' Transport ................. 27
Energy And Utilities Infrastructure Overview 29
Industry Forecast: Energy And Utilities Infrastructure ......... 31
Table: Singapore: Energy And Utilities Industry Forecast ....................... 31
New And Ongoing Projects .................. 33
Power Plants And Transmission Grids 33
Table: Who Bid And Who Won In Singapore's Power Divestments ........... 33
Oil And Gas Pipelines, LNG And Refineries ..................... 34
Water ... 35
Table: Singapore ' Major Infrastructure Projects ' Energy And Utilities . 35
Construction And Infrastructure Industry Overview .............. 36
Industry Forecast Scenario: Construction And Infrastructure ....................... 38
Table: Singapore: Construction Industry Forecast ........... 38
Business Environment Ratings ..........40
Asia Pacific Infrastructure Business Environment Ratings .... 40
Table: Regional Infrastructure Business Environment Ratings ................. 45
Limits Of Potential Returns .................. 46
Risks To Realisation Of Potential Returns 46
Project Finance Ratings: Outlook For Asia Pacific, September 2009 ............ 47
Table: Design And Construction Rating ... 50
Table: Commissioning And Operating Rating .................. 51
Table: Overall Project Finance Rating 53
Political Outlook ..........54
Macroeconomic Forecast ...................57
Table: Singapore ' Economic Activity . 59
Company Monitor ........60
Sembcorp Industries .... 60
Dragages Singapore .... 63
Hock Lian Seng Infrastructure Limited 64
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