Soilbuild Construction subsidiary snags US$3.9m contract in Myanmar

A WHOLLY-OWNED subsidiary of Singapore-listed Soilbuild Construction Group has been awarded a contract worth US$3.9 million for construction works in Myanmar.

The subsidiary - Soilbuild Construction (Myanmar) Company Ltd - will work on civil and superstructure work on a food service distribution centre in Myanmar's Thilawa Special Economic Zone.

The contract was awarded by Metro Wholesale Myanmar Ltd (Metro), its third with the Myanmar arm of Soilbuild Construction.

Works are expected to commence in December 2017, with completion expected within seven months from the commencement date of the construction works, the company said in an aftermarket filing with the Singapore Exchange on Wednesday.

Ho Toon Bah, executive director of Soilbuild Construction, said: "We are delighted to be awarded with this third construction contract by Metro, which demonstrates the confidence our client has in the group. Moving forward, the group will continue to leverage on our multi-disciplinary track record and experience within the construction space, particularly in the industrial building sector, to secure more contracts in Myanmar."

Soilbuild Construction shares finished S$0.005 or 2.9 per cent lower at S$0.17 on Wednesday.