Kori Holdings unit bags six contracts worth S$81.2m

CONSTRUCTION services firm Kori Holdings on Monday announced that its subsidiary, Kori Construction, has clinched six contracts in three projects worth an aggregate of S$81.2 million between September 2020 to January 2021.

In a bourse filling, the Catalist-listed group said one of the projects, awarded by the Singapore branch of China Railway First Group Co, is for strutting works and sheet piling works at the North South Corridor (Tunnel) between Marymount Lane and Pemimpin Place.

The contract for strutting works has the largest value, and is scheduled to be completed in 60 months from its commencement in the first quarter of 2021, said the group.

The second project was awarded by Shanghai Tunnel Engineering Co (Singapore) for tunnel strutting works as well as Kallang River strutting works at the North-South Corridor (Tunnel) between Sin Ming Avenue and Ang Mo Kio Avenue 3.

The third project, awarded by Lum Chang Building Contractors, is for Mandai strutting works and sheet pile works at Mandai Lake Road.

Hooi Yu Koh, executive chairman and CEO of Kori Holdings, said: "We are pleased to have been awarded these projects for the various strutting, decking and sheet piling works. This affirms our long-standing proven track record we have established over the years. It also signifies the trust and confidence that our customers and partners have in us."

The projects are expected to have a positive impact on the group's earnings per share and/or net tangible assets per share of the group for the financial year ending Dec 31, 2021.