Group&rsquo s order book now stands at S$685 million

SOILBUILD Construction : S7P +6.67% on Tuesday (Apr 23) said its subsidiaries have been awarded contracts with an aggregate value of about S$81 million, bringing the group&rsquo s order book to about S$685 million.

 

SB Procurement, a wholly owned subsidiary, got a contract to build a five-storey transportation hub in Ubi, Singapore.

 

The hub will be built to achieve the Green Mark Gold Plus eco-sustainable rating for a building under the Building and Construction Authority&rsquo s certification scheme.

 

Another wholly owned subsidiary, Precast Concrete, got a contract for the supply and delivery of precast components to a Housing and Development Board public housing project in Tengah, Singapore.

 

The contracts are expected to commence in Q3 this year and be completed by Q2 2027.

 

Soilbuild Construction Group S7P 0.00% has been awarded new contracts worth $3.6 million through its wholly-owned subsidiaries Soil-Build and Precast Concrete.

 

Soil-Build has secured a construction contract by SB (TND) Investment for hoarding and earthworks at an industrial development in Tampines North.

 

SB (TND) Investment is also a wholly-owned subsidiary of Soilbuild. As such, the Tampines North project constitutes a mandated interested person transaction (IPT).

 

Meanwhile, Precast Concrete has been awarded a contract for the supply and delivery of precast components to a Housing and Development Board (HDB) public housing project in the Kallang/Whampoa estate.

 

The new contracts awarded bring the group&rsquo s order book to approximately $604.1 million. They are not expected to have any material impact on the consolidated net tangible assets per share and consolidated earnings per share of Soilbuild for the FY2024 ending Dec 31.

 

Soilbuild Construction Group has reported earnings of $7.3 million for F2023, reversing from a loss of $31.7 million incurred because of the pandemic which disrupted construction activities.

 

Revenue in the same period was held steady at $247.4 million.

 

The improvement was especially pronounced in its 2HFY2023, with earnings of $6 million versus $1.4 million reported for 2HFY2022, with contributions from projects newly secured following the pandemic.

&ldquo We are pleased to announce a strong set of financial results which attests to the group&rsquo s firm recovery from the Covid-19 pandemic,&rdquo says executive director Lim Han Ren.

 

As at end of December, Soilbuild has an order book of around $600 million, consisting of 4 new construction contracts and 19 new precast supply and delivery contracts, with a total value of $396 million. These contracts were all secured within FY2023.

 

The company plans to pay a first and final dividend of 0.1 cent per share.

 

 

 

TWO units of Soilbuild Construction Group : S7P +20.69% have bagged S$24.3 million in new contracts, the company said in a bourse filing on Wednesday (Jan 10).

 

Soil-Build, a wholly-owned subsidiary, has been awarded a construction contract by SB (2TS) Investment for demolition and piling works for a multi-user industrial development at Tuas South Avenue.

 

Construction for the development &ndash billed as the Tuas South Project &ndash is set to start in the first quarter of 2024 and to be completed by Q3.

 

Soilbuild Construction flagged that the Tuas South Project is in the ordinary course of business of the group, and constitutes a mandated interested person transaction where the interested person transaction mandate (IPT mandate) will apply.

 

This is because SB (2TS) Investment is considered a mandated interested person, as it is a wholly-owned subsidiary of Soilbuild Group, of which Lim Chap Huat, Soilbuild&rsquo s executive chairman, is the sole shareholder.

 

Besides Lim, Lim Han Ren and Lim Cheng Hwa, who are directors of Soilbuild Group Holdings, none of the directors or controlling shareholders of Soilbuild Construction have any interest, direct or indirect, in the Tuas South Project, other than through their respective shareholdings in the company.

 

The company added that its audit committee is of the view that the transaction is on normal commercial terms and is not prejudicial to the interests of the company and its minority shareholders.

 

Meanwhile, Precast Concrete, a wholly-owned subsidiary of the company, has been awarded two Housing and Development Board (HDB) contracts for the supply and delivery of precast components in Singapore. One is an HDB term contract, while the other is for an HDB housing project in Tengah.

 

Both the HDB precast and prefabrication contracts are expected to commence in the first quarter of 2024 and be completed by the second quarter of 2026.

 

The new contracts &ndash which total up to about S$24.3 million &ndash bring the group&rsquo s order book to around S$588.6 million as at end-June 2023.

 

The contracts are not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of the group for the current financial year ending Dec 31, 2024.

 

Soilbuild Construction announced that is has been awarded contracts worth about $118.7 million. The contracts are expected to commence in 3Q2023 and are expected to be completed by 2Q2025.

 

Of the contracts won, one was awarded to the group&rsquo s wholly-owned subsidiary SB Procurement. This construction contract will see the group responsible for the the building of a sustainable and energy efficient logistics facility in Singapore.

 

The facility will be built to achieve four sustainability certifications, namely Green Mark Platinum, Green Mark Zero Energy, Leadership in Energy and Environmental Design (LEED) Gold and LEED Zero Carbon.

 

Meanwhile, Precast Concrete, another wholly-owned subsidiary of the group has been awarded contracts for supply and delivery of precast components to Housing and Development Board public housing projects located in Tampines, Woodlands, Bishan and Choa Chu Kang, Singapore.

 

With the new contracts secured, the group&rsquo s order book has risen to approximately $693.0 million (based on order book as of end December 2022 and including new contracts secured since).

 

These contracts are not expected to have any material impact on the group&rsquo s earnings for the current financial year ending Dec 31.