ISOTeam has secured new projects valued at a total of $42.9 million.
The new contracts comprise eight projects, which are four addition and alteration (A&A) projects worth some $35.2 million, two repair and redecoration projects valued at around $6.7 million, one coating and painting project worth $0.1 million and one interior design contract worth $0.9 million.
The new projects are to be delivered between November 2023 and November 2026.
With the new projects secured, ISOTeam’s order book now stands at a new high of $226.3 million as at Oct 18, up from its 10-year high of $194.0 million as at Aug 3.
“At $226.3 million, our order book is at an all-time high since ISOTeam’s establishment and comprise projects with reasonably good margins compared to the pandemic era. We are glad to see the pace of A&A projects picking up speed in this latest batch of contract wins. Even as new flats are being built and launched, the government has also intensified its upgrading and maintenance efforts across more mature estates, which bodes well for our business. We will continue to pursue all opportunities in both the public and private sector to build our order book and generate returns to our shareholders,” says Anthony Koh, ISOTeam’s group executive director and CEO.
Shares in ISOTeam closed 0.1 cent lower or 2.33% down at 4.2 cents on Oct 18.
