Sysma Holdings bags S$18.6m contract to build two-storey Good Class Bungalow
CATALIST-LISTED builder Sysma Holdings has won an S$18.6 million contract to build a home in a Good Class Bungalow (GCB) Area, the group said on Wednesday.
Wholly owned subsidiary Sysma Construction is set to put up a two-storey bungalow - complete with basement, attic and swimming pool - at 28, Jalan Kampong Chantek, off Dunearn Road, in a deal with what was described as "an established private owner".
The Business Times reported in February 2017 that Super Group co-founder Ronald Te had bought the property for S$27.59 million, or S$1,003 per square foot based on the freehold land area of 27,504 sq ft.
The existing seven-bedroom house, which was vacant when it was bought, has a built-up area of some 11,000 sq ft, with two floors, an attic and a swimming pool. It falls within the Swiss Club Road GCB Area.
Sysma Holdings said that its 20-month contract will start when a demolition permit is issued by the relevant authorities, which is expected to happen in end-December 2018.
The contract is not expected to have any material impact on earnings or net tangible assets per share for the year to July 31, 2019, it added.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UOB Kay Hian says ‘disadvantageous’ to reveal details of key management’s remuneration
Deutsche Bank has cut dozens in Asia private banking overhaul
Middle East violence heightens market fears of rate hikes, inflation
Tokyo's Nikkei drops more than 1,000 points, most in 3 years
Cordlife calls for trading halt after shares sink to all-time low, pending announcement
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece