Temasek-linked town planner Surbana Jurong says eyeing more acquisitions

SINGAPORE (REUTERS) - Surbana Jurong Pvt Ltd, an urban planning consultancy 51-per cent owned by Singapore state investor Temasek Holdings, is looking at acquisitions abroad including China, its group chief executive said, a move that will help raise overseas revenues.

"Besides China, we are looking at Australia, Japan as well as India," Group Chief Executive Wong Heang Fine told Reuters.

Emerging economies are seeing rapid urbanisation, and companies are getting more opportunities to provide planning and building services for projects such as economic zones, business parks, residences and hospitals.

Global infrastructure spending is expected to grow to more than US$9 trillion per year by 2025 from an annual US$4 trillion in 2012, PwC has forecast. The Asia-Pacific market is expected to account for nearly 60 percent of that spending by 2025, the June 2014 report by PwC showed.

Surbana Jurong made investment commitments to the tune of S$150 million-S$200 million last year, when it announced four deals, including an agreement for a 20 per cent stake in CITICC (Africa) Holdings Ltd.

When asked how much the company was planning to invest this year, Wong said: "I think it will be much more than that."

CITICC (Africa) is a US$300 million platform set up by the World Bank's International Finance Corporation and China's CITIC Construction Co to develop affordable housing in Africa.

Surbana Jurong is hoping to increase the share of revenue from overseas to 40-60 per cent from the current 20 per cent in the next three to five years, Mr Wong said.

Fresh growth is expected to come from Myanmar, Sri Lanka and African countries, he said.