Soilbuild awarded $50.4 mil contract for industrial factory development at Kallang Way

Soilbuild awarded $50.4 mil contract for industrial factory development at Kallang Way

Michelle Zhu
05/10/17, 06:20 pm

SINGAPORE (Oct 5): Soilbuild Construction Group has been awarded a project worth $50.4 million by SB (Waterfront) Investment for the proposed erection of a seven-storey, single-user general industrial factory development at the Geylang Planning Area’s 171 Kallang Way.

SB (Waterfront) Investment is an investment holding company of Soilbuild Group Holdings, the parent company of Soilbuild Construction.

In a regulatory filing on Thursday, Soilbuild Construction says the development will have a part four-storey other ancillary facilities with a basement carpark, and is scheduled to be completed in 3Q19.

The company’s latest contract win brings its order book to $574.2 million , out of which $389.6 million comprise local construction projects while construction projects in Myanmar make up the remaining $184.6 million.

Soilbuild does not expect the project to have a material impact on its consolidated net tangible assets (NTA) and earnings per share (EPS) for the current financial year ending Dec 2017.

Shares in Soilbuild Construction closed flat at 20 cents.

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