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ISOTeam wins another $24.33 million worth of contracts

The Edge Singapore
The Edge Singapore2/23/2021 06:09 PM GMT+08  • 1 min read
ISOTeam wins another $24.33 million worth of contracts
The company's order book now totals $87.43 million
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ISOTeam which provides painting and maintenance services, has been awarded contracts worth $24.33 million to be fulfilled between May this year and March 2024.

Together with the $63.1 million worth of projects that it had clinched year-to-date for its financial year ending 30 June 2021, this latest batch brings the tally of new contracts secured to $87.43 million.

The key contract awarded recently is for two addition and alteration projects worth $22 million for 34 blocks of flats at Tampines.

SEE: ISOTeam reports $6 mil loss for 1H21 due to lower revenue, gross profit

ISOTeam was also given two landscaping projects worth $1.35 million; an interior design project worth $0.68 million and two coating and painting projects worth $0.30 million.

“Business activities have definitely picked up in 2021 and we are very encouraged at having won a second batch of contracts for the second straight month,” says executive director and CEO Anthony Koh.

“We are cautiously optimistic that this trend will continue for the remainder of the year as clients re-start their projects and plans after the forced stoppage of work in 2020 because of Covid-19,” he adds.

ISOTeam closed Feb 23 at 13 cents, up 0.81%.

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