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Soilbuild Construction bags S$128m HDB contract

MAINBOARD-LISTED Soilbuild Construction Group has been awarded a S$128 million contract by the Housing Development Board (HDB) for building works at Sembawang.

Under the contract, Soilbuild is to construct six blocks of 16 to 17-storey residential buildings with a multi-storey car park, commercial/community facilities, precinct pavilions and a park.

The construction period will be for approximately 36 months.

This brings Soilbuild's total awarded contracts in 2014 to eight, while its total order book value (not including this contract) stood at S$717.2 million, as at Nov 11, 2014.

Soilbuild does not expect the contract to have a material impact on the net tangible assets and earnings per share of the group for the current financial year ending Dec 31, 2014.

On Wednesday, after jumping 2.13 per cent, Soilbuild's counter closed at S$0.24.