Sysma secures $37.7 mil construction contract from Oxley for Pasir Panjang project

Sysma secures $37.7 mil construction contract from Oxley for Pasir Panjang project

By: 
Stanislaus Jude Chan
18/06/18, 06:00 pm

SINGAPORE (June 18): Sysma Holdings’ wholly-owned subsidiary, Sysma Construction, has won a contract worth $37.7 million for construction works at a residential project located at 231 Pasir Panjang Road in Singapore.

The contract was awarded by Oxley Amber, a wholly-owned subsidiary of Oxley Holdings.

The construction works will include the erection of four blocks of 5-storey residential flats and three 2-storey strata landed houses, as well as a basement carpark, clubhouse, swimming pool and communal facilities.

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

Sysma says it is not expected to have any material impact on the earnings per share or the net tangible assets per share of the group for the financial year ending July 31, 2018.

Oxley last year announced the purchase of the 8,326 sq m freehold property for $121 million.

See: Oxley to buy Pasir Panjang property for $121 mil

Shares of Sysma closed flat at 15.1 cents on Monday, while shares of Oxley closed half a cent up at 43.5 cents.

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