theceomagazine.com | 25“ Having an open-minded
approach is important in this
industry. We need to accept new
ideas and new knowledge.”
He operates with a strict open-door
policy. “Open door is open minded, and
having an open-minded approach is
important in this industry,” he says. “We need
to accept new ideas and new knowledge, and
try different things, to stay at the forefront of
construction and real estate development.”
Francis adds that a mindset of continuous
improvement is also vital in an industry
where change is a constant. “The technology
of construction keeps evolving,” he notes.
“We are always using different kinds of
machines and methods of construction. We
always try to move ahead so construction can
be an easier and safer process, while also
saving on cost. That’s the most important
part, because if we can find savings, it allows
us to be more efficient and to take on more
complex projects.”
The group’s construction arm is
undertaking its most lucrative contract to
date, a S$1.12 billion agreement to develop
three runways for Changi Airport. He says
there could be further work in this field.
“Some airports are expanding while others
are improving their runways, and yet others
are improving their connectivity and facilities
to get ready for further growth. The potential
is huge. I think there will be a lot of work
around airports.”
Having shown an ability to pull off both
ambitious luxury developments and complex,
large-scale infrastructure projects within
Singapore, Koh Brothers will increasingly
look outside national borders for work. In
particular, Francis believes there may be
opportunities for Koh Brothers to leverage
its experience in infrastructure projects
into work arising from the ‘One Belt, One
Road’ initiative, a Chinese economic and
development strategy of unprecedented scale
to promote greater connectivity and
cooperation between Eurasian countries.
“One thing I think is very promising is
our improved connectivity with Asia,” Francis
says. “I have no doubt the whole working
environment in Asia will be positive.” The
company has invested in property in South
Korea and Malaysia and is examining
property development opportunities there
and in other countries across the region.
Francis expects some challenges around staffing in
coming years. “The government quotas on foreign labour
will probably be reduced, so we will probably look for
new methods with less reliance on foreign workers.” There
are also likely to be more rigorous safety standards put in
place as well as fluctuations in the price of construction
materials, though the company is well placed to overcome
these obstacles.
Overall, Francis sees a wealth of opportunities for the
company to continue broadening its expertise and growing
its reputation.
“For real estate, the market is hot right now. However,
costs and prices are going up, so it’s a challenge for real
estate developers to get projects to be profitable. The private
residence market will likely pick up, though, so I think the
market for both residential building and infrastructure will
be stronger in the coming years.”Interview | INSPIRE