Soilbuild Construction Group has been awarded construction contracts worth approximately S$140.4 million in aggregate for building works in Toa Payoh Neighbourhood 1 and piling works in the Pasir Ris Planning Area.
SB Procurement, a wholly owned subsidiary of Soilbuild, was awarded the contract by the Housing and Development Board (HDB) for building works in Toa Payoh Neighbourhood 1.
The Toa Payoh HDB Project involves the building of 2 residential blocks, a multi-storey carpark and a community club which is scheduled to start in the fourth quarter of 2022 and to be completed by the second quarter of 2027.
The community club is being built to satisfy the requirements for Green Mark Platinum, the highest eco-sustainable rating for a building under the Building & Construction Authority’s revised Green Mark Certification Scheme 2021.
Meanwhile, another wholly owned subsidiary of Soilbuild, Soil-Build (Pte.) Ltd. has been awarded a construction contract for piling works in the Pasir Ris Planning Area, which is scheduled to start in the fourth quarter of 2022 and to be completed by the second quarter of 2023.
Group general manager Lim Han Ren says: “We are delighted to have been awarded these two projects. These new projects are also a positive sign that our construction business is regaining momentum along with the gradual recovery of the construction sector.
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“With the addition of these two projects, our order books have also been replenished to a healthy level while we will continue to position ourselves to take on new projects in the coming year,” adds Lim
The newly-awarded contracts bring the Soilbuild Construction’s latest order book to approximately $492.7 million as at end October, which comprises $384.6 million for construction projects and $108.1 million for precast supply and delivery projects.
The contracts are not expected to have any material impact on the consolidated net tangible assets per share and consolidated earnings per share (EPS) of Soilbuild for the FY2022 ending December.
Shares in Soilbuild closed 0.8 cents or 19.05% up at 5 cents on Dec 12.
