Sysma unit secures S$37.7m for construction of Pasir Panjang residential development

SYSMA Construction, a unit of Catalist-listed Sysma Holdings, has secured a S$37.7 million contract with Oxley Amber for the construction of a residential development in Pasir Panjang.

In a filing with the Singapore Exchange on Monday evening, Sysma said that the contract will involve the construction of "4 blocks of 5-storey residential flats and three, 2-storey strata landed houses (comprising a total of 170 units)."

Sysma added that it will also construct the basement car park, clubhouse, swimming pool and communal facilities at 231 Pasir Panjang Road.

The contract will commence in July 2018 for a period of 28 months.

Sysma shares closed flat at S$0.151 on Monday before the announcement.