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“A major issue in Singapore is the focus on awarding contracts based solely on the lowest price. This approach discourages collaboration and information sharing between stakeholders.
In public sector projects, which make up a significant portion of construction work in Singapore, the government’s interests are often prioritised in risk allocation. This leaves contractors and subcontractors responsible for risks they might not be well-equipped to handle. A more balanced risk-sharing system is an urgent necessity for a sustainable and healthy construction industry in Singapore.”
TBH Asia Director, Trevor Lam was recently interviewed by Building Review Journal. He shared his insights into Singapore’s contracting landscape, highlighting the importance of adopting collaborative contracting models within the industry to improve risk management, project outcomes, and stakeholder relationships.
During the interview, Trevor also touched on TBH’s unique approach, which is characterised by proactive planning, transparent communication, and cultivating trust among stakeholders, ensuring better project execution and risk mitigation.
Check out the full interview in the latest issue of Building Review Journal magazine or online here.