BUILDING maintenance company ISOTeam : 5WF 0% has secured new contracts for 14 projects valued at S$50.7 million in total.

The new contracts are slated for delivery between June 2023 and March 2026. It will bring ISOTeam’s order book to S$195.1 million, said the group on Monday (May 29).

More than half of the new projects secured come from the public sector, with S$20.2 million worth of addition and alteration projects expected to be completed by October 2025.

Another four repair and redecoration projects for flats across Toa Payoh, Mountbatten, Pandan Gardens and Queenstown come with a total contract value of S$18.3 million. These projects are expected to be delivered by July 2024.

Other new projects include coating and painting works for a national research facility at Tuas along with a business park development.

The latest contract wins are not expected to have a material impact on its earnings per share, nor net tangible assets per share, for the current financial year ending Jun 30.

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ISOTeam’s chief executive and group executive director Anthony Koh said the increasing volume of projects up for tender reflects a “steady recovery of the construction industry and the gradual easing of short-term labour supply challenges”.

“We expect this growth momentum to continue as the industry makes up for time lost during the pandemic,” he added. 

Shares of ISOTeam closed Friday S$0.014 or 17.5 per cent higher at S$0.094.