Soilbuild bags S$140.4 million in new construction contracts

SOILBUILD Construction Group has clinched S$140.4 million in new contracts, bringing its total order book to S$492.7 million as at end-October, the company announced in a Monday (Dec 12) bourse filing.

The company’s S$492.7 million order book comprises S$384.6 million in construction projects and S$108.1 million in precast supply and delivery projects.

SB Procurement, a wholly-owned unit of Soilbuild, has been awarded a contract by the Housing and Development Board for building works at Toa Payoh Neighbourhood 1. The project involves two residential blocks, a multi-storey carpark and a community club. It is scheduled to start in Q4 this year and is set to be completed by Q2 of 2027. 

Another unit of the company, Soil-Build (Pte.) Ltd, has been awarded a construction contract for piling works at Pasir Ris. This is scheduled to start in Q4 and set to be completed by Q2 2023. 

“These new projects are a positive sign that our construction business is regaining momentum along with the gradual recovery of the construction sector. With the addition of these two projects, our order books have also been replenished to a healthy level while we will continue to position ourselves to take on new projects in the coming year,” said Lim Han Ren, Soilbuild’s group general manager. 

Shares of Soilbuild closed at S$0.05 on Monday, up 19.1 per cent or S$0.008.