Surbana Jurong

Surbana Jurong Private Limited (also referred to as Surbana Jurong) is a Singaporean government-owned consultancy company focusing on infrastructure and urban development. It was formed on 22 June 2015 with the merger of Surbana International Consultants and Jurong International Holdings.[1] As of July 2016, it is wholly owned by Temasek Holdings and had 13,000 employees.

Surbana Jurong
TypePrivate Limited Company
IndustryUrban planning and design
Predecessors
  • Jurong International Holdings
  • Surbana International Consultants
Founded22 June 2015 (2015-06-22)
HeadquartersSingapore
OwnerTemasek Holdings
Number of employees
13,000 (2016)
SubsidiariesSMEC Holdings, KTP Consultants Pte Ltd, Sino-Sun Architects & Engineers Co. Ltd, Aetos Security Management
Websitesurbanajurong.com

History

On 16 February 2015, JTC Corporation and Temasek Holdings announced plans to merge several of their subsidiaries. According to the agreement, JTC Corporation owned Jurong International Holdings and Temasek Holdings owned Surbana International Consultants were to be merged into a single entity with 49:51 partnership between JTC and Temasek.[2] The merger was completed in 22 June 2015 with the merged entity named Surbana Jurong.[1]

Predecessors

Surbana International Consultants
Surbana logo used from 2003 to 2015

Surbana International Consultants (formerly part of HDB Corp) was a consultancy company specialising in sustainable urban solutions. Headquartered in Singapore, it was owned by CapitaLand and Temasek Holdings, an investment company owned by the Government of Singapore. It was formerly the Building and Development Division in Singapore's Housing and Development Board. Surbana International Consultants was corporatised in 2003 as a consultancy business and subsequently expanded to over 90 cities in 26 countries.[3] One of its major international projects was the 2009 master plan for Kigali City in Rwanda to turn it into a financial hub for Africa.[4] In 2014 Surbana International Consultants and Jurong International holdings began collaboration on a project from the Indian government to create Amaravati as the new capital city of Andhra Pradesh. A year later the two firms merged to form Surbana Jurong.[5]

Jurong International Holdings

Jurong International Holdings was a wholly owned subsidiary of JTC Corporation specialising in industrial development. It has built townships and provided marine and infrastructure developments. The company had operations in China, India and Middle East.[6]

Milestones

Notable projects

Surbana Jurong was involved in master-planning and infrastructure planning for an industrial park and deep-sea port in the state of Rakhine, Myanmar.[7] In March 2016, Surbana Jurong secured two major contracts in Africa. The contract in Ghana, involved master-planning of Buipe and Tamale along with the conceptual planning of the Northern Savannah Ecological Zone. In Gabon it was involved in the master-planner for the Greater Libreville region.[8]

Notable acquisitions

On 22 June 2015, Surbana Jurong announced the acquisitions of KTP Consultants Pte Ltd in Singapore and Sino-Sun Architects & Engineers Co. Ltd in China.[1]

On 11 November 2015, Surbana Jurong acquired 20% equity stake in China's CITICC (Africa) Holding Limited and an 8.4% stake in FLUX Factory, Inc. (a spin-off from Google X).[9]

On 1 August 2016, Surbana Jurong announced the acquisition of Australia-based SMEC Holdings for S$400 million.[10]

On 13 October 2016, Surbana Jurong acquired security firm, AETOS Holdings for an undisclosed amount.[11][12][13]

On 29 November 2017, Surbana Jurong acquired Robert Bird Group, a global consulting engineering firm.[14][15]

On 12 November 2020, Surbana Jurong acquired Atelier Ten, a London-based environmental engineering firm.[16][17]

Partnerships

On 14 September 2018, Surbana Jurong Capital (a wholly owned subsidiary of Surbana Jurong) and Mitsubishi Corporation signed an agreement to form Mitbana, a fund management company (FMC). The FMC will be operated as a 50:50 joint venture, and shall invest in urban development projects in Asia. This marks Surbana Jurong's first foray into the fund management business.[18]

Future headquarters

On 18 January 2019, Surbana Jurong broke ground on its future headquarters in the future Jurong Innovation District. It will be located close to Nanyang Technological University, which set up the SJ-NTU Corporate Lab in 2018. When completed by 2021, the 68,915 square metre development will support 4,000 employees, and will be used to trial urban solutions before commercialisation.[19]

References
  1. Wong, Wei Han (23 June 2015). "Surbana Jurong sets its sights on being a global leader". The Straits Times. Retrieved 1 August 2016.
  2. Wong, Wei Han (16 February 2015). "Temasek, JTC give official blessing to merger of subsidiaries". The Straits Times. Retrieved 1 August 2016.
  3. Haila, Anne (2015). Urban Land Rent: Singapore as a Property State, p. 148. John Wiley & Sons. ISBN 1118827686
  4. Hong, Mark and Lugg, Amy (eds.) (2015). The Rise of Singapore, , Vol. 1, p. 98. World Scientific. ISBN 9814704954
  5. Biswas, Rajiv (2016). Asian Megatrends, p. 65. Springer. ISBN 1137441895
  6. Venkat, P. R. (4 September 2014). "Singapore's Temasek, JTC in Talks to Merge Some Property Units". The Wall Street Journal. ISSN 0099-9660. Retrieved 2 August 2016.
  7. Chong, Koh Ping (27 February 2016). "Surbana Jurong clinches new projects in Myanmar". The Straits Times. Retrieved 1 August 2016.
  8. Khoo, Lynette (7 March 2016). "Africa beckons, as Surbana Jurong eyes 40–60% of revenue from overseas in 3–5 years". The Business Times. Retrieved 1 August 2016.
  9. hermes (12 November 2015). "Surbana Jurong buys stakes in two firms amid African foray". The Straits Times. Retrieved 16 January 2017.
  10. Whang, Rennie (1 August 2016). "Surbana Jurong buys Australia's SMEC for S$400 million". The Straits Times. Retrieved 27 September 2016.
  11. Tan, Melissa. "Surbana Jurong buys security firm from Temasek". The Business Times. Retrieved 17 October 2016.
  12. "Surbana Jurong Adds Safety & Security Capabilities With Acquisition of Aetos" (PDF) (Press release). Surbana Jurong. 13 October 2016. Archived (PDF) from the original on 6 July 2019. Retrieved 25 October 2016.
  13. Leong, Grace (14 October 2016). "Surbana Jurong acquires security firm Aetos". The Straits Times. Retrieved 17 October 2016.
  14. "Robert Bird flying high with Temasek's Surbana Jurong takeover". Financial Review. 29 November 2017. Retrieved 1 December 2017.
  15. Meixian, Lee. "Surbana Jurong lifts engineering expertise with Aussie buy". The Business Times. Retrieved 1 December 2017.
  16. Waite, Richard (12 November 2020). "Singaporean infrastructure giant snaps up Patrick Bellew's Atelier Ten". The Architects’ Journal. Retrieved 12 November 2020.
  17. Ng, Michelle (12 November 2020). "Surbana Jurong acquires firm behind Esplanade's durian-like appearance". The Straits Times. Retrieved 6 January 2021.
  18. "Surbana Jurong and Mitsubishi Corporation enter joint venture to set up fund management company". Surbana Jurong. 14 September 2018. Retrieved 20 September 2019.
  19. "Surbana Jurong breaks ground on global headquarters in Jurong Innovation District". The Straits Times. 18 January 2019. Retrieved 20 September 2019.
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