Soilbuild awarded S$82.5m contracts by its chairman's company

SOILBUILD Construction Group has been awarded contracts worth S$82.5 million to build a general industrial factory development.

In a filing on Singapore Exchange on Monday, the firm said it has been awarded the contracts by SB (Waterview) Investment Pte Ltd to erect two nine-storey blocks with a carpark on the first storey at 164 Kallang Way.

The project is expected to start in the third quarter of this year and is to be completed within 20 months. It is not expected to have a material impact on the group's consolidated net tangible assets and earnings per share for the current financial year.

The latest contract brings Soilbuild's order book to S$590.6 million. This comprises S$380.2 million from local construction projects and S$210.4 million from Myanmar construction projects.

SB (Waterview) Investment is a wholly owned subsidiary of Soilbuild Group Holdings, owned by Lim Chap Huat who is also Soilbuild Construction Group's executive chairman.