Soilbuild Construction Secures Contracts Worth SG$70 Million; Shares Surge 5%

MT Newswires

2024/08/20

Soilbuild Construction Group (SGX:S7P) was awarded contracts worth SG$69.6 million, according to a filing with the Singapore Exchange on Monday.

The company's wholly owned subsidiary, Soil-Build, was awarded a contract by SB (2TS) Investment for the construction of a multiple-user industrial development at Tuas South Avenue. The project is expected to be completed by the third quarter of 2025.

Another wholly owned subsidiary, Precast Concrete, was awarded a contract for the provision and delivery of precast components to a Housing and Development Board project in Kallang Whampoa. The project is expected to be completed by the fourth quarter of 2025.

The two contract awards take the company's order book to around SG$1.25 billion as of June 30.

Shares of the company surged nearly 5% in recent trading.

Price (SGD): S$0.09, Change: S$+0.0040, Percent Change: +4.88%

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