From http://straitstimes.asia1.com.sg/forum/story/0,4386,261510,00.html?
IN THE article, 'Contractors'
'suicide bids': a gamble for survival' (ST, July 
, it was reported that contractors submitted very low bids in order to
maintain their registration status in the Building and
Construction Authority's Contractors' Registry (CRS), among other
things.
BCA requires contractors to have the requisite track record before
they are allowed to renew their CRS grades because it is essential
to ensure that the experience and expertise are still with a
company.
However, BCA recognises that with the drop in the volume of
construction work in recent years, some construction companies
would find it difficult to have the required track record to
maintain their registration status.
We have therefore lengthened the period
for acquiring the requisite track record, from three to five years,
and also allowed ongoing contracts to be included.
This was announced last
October.
With the relaxation of the registry requirement, there would be
sufficient volume of work for most, if not all, contractors to
renew their registration grades.
For all the registered companies which require a track record to
renew their grades this year, their required volume of work (which
may be drawn from contracts awarded from 1998 to 2004) has to add
up to $15.5 billion.
In this period, the contracts awarded in Singapore totalled $99.7
billion, which is more than six times the required track record. It
does not include overseas contracts, which can also be
considered.
BCA will continue to monitor the market and adjust the CRS
requirements, if necessary.
JEANNA DAS (MS)
Corporate Communications Department
for Chief Executive Officer
Building and Construction Authority