Temasek-backed town planner Surbana Jurong buys Australia’s SMEC

Temasek brand logo (from its social media page)

Singapore-based urban planning consultancy Surbana Jurong Pvt Ltd, owned by state investor Temasek Holdings, has agreed to buy Australia-based SMEC Holdings Ltd for about S$400 million ($298 million), increasing its global reach.

The combined entity will have a global workforce of almost 10,000 employees and revenue of about S$1.1 billion ($821 million), the companies said in a joint statement on Monday, making it one of the largest urban and infrastructure consulting firms in Asia.

Surbana Jurong said earlier this year it was looking at acquisitions overseas, including China and India as well as Australia. SMEC provides consultancy services for infrastructure projects.

Global infrastructure spending is expected to grow to more than $9 trillion per year by 2025 from an annual $4 trillion in 2012, consultancy PwC has forecast, with the Asia-Pacific market expected to account for nearly 60 per cent of that.

Surbana Jurong is hoping to increase the share of revenue that comes from overseas business to 40-60 per cent from the current 20 per cent in the next three-to-five years, Group Chief Executive Wong Heang Fine told Reuters in January.

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Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.