By the 1990s, the company had become a versatile main contractor. Its status as an A1-grade contractor with the Building and Construction Authority (BCA) enables it to participate in big-ticket projects. 

With its diversification into construction-related services such as engineering and scaffolding works and the leasing of construction machinery and equipment, Lian Beng was already a vested local frontrunner when it went public in 1999. Backed by an impeccable track record as a main contractor for all types of building construction, its value proposition is hard to match in terms of cost competitiveness and reliability.

Ong Pang Aik has received multiple awards for his business acumen and exceptional entrepreneurial achievements - skills that kept the company stable amid periodic market downturns.

The acquisition in 2001 of Deenn Engineering, an established design-and-build company, further augmented its core construction business. Together with Millennium International Builders (MIB), another wholly owned subsidiary, the group's expertise for upscale projects is well regarded in the industry.

Lian Beng's performance as a substructure contractor for Marina Bay Sands and in the construction of the Ritz-Carlton Residences cemented the group's credentials in the ultra-luxury niche. It completed the substructure of the Marina Bay Sands project despite teething technical challenges. Meanwhile, the Ritz-Carlton Residences located at the heart of Orchard Road was a coveted contract that MIB won in 2008. For its efforts in productivity improvement and quality through technological innovations, MIB was conferred the BCA Construction Excellence Award in 2013 for this project.

"People are an asset," says Ong Lay Koon, director, who oversees group-wide human resource management. "The professionals in our team complement each other's technical expertise. We also have quality control teams making sure that each project meets the required standard in quality." 

Consistent excellence in project delivery generates economies of scale, thus bolstering group-wide profitability. Beyond construction, Lian Beng has grown its property development and property investment businesses through joint ventures. The successful completion of several joint-venture residential and industrial developments over the past few years further diversifies the group's revenue streams. Last year, Lian Beng was the largest stakeholder in the consortium that acquired Prudential Tower, marking the group's first major venture into commercial property investment in the central business district.

The group is in the planning stages for new joint-venture property development projects in China and Australia. It will also explore opportunities in other countries.

"We are committed to growing our recurring income through new ventures for the benefit of shareholders," Ong Pang Aik says. 

One such venture, the development and operation of a workers' dormitory, has become the bedrock of recurring earnings complementing project-based revenue from construction and property development.

Lian Beng's existing construction order book charts construction activities well into fiscal year 2017. With projects such as The Midtown, Spottiswoode Suites, KAP Residences and NEWest enjoying brisk sales, the group expects even higher returns on property development. Recurring income will likewise grow with the expected completion of its second workers' dormitory next year. Such growth momentum in its business units propels Lian Beng into its future as a construction conglomerate.