SOILBUILD Construction Group has clinched a S$647.5 million construction contract, bringing the group’s order book to about S$1.23 billion.
In a bourse filing on Thursday (Jun 13), the company said that the contract has been awarded to its wholly owned subsidiary, SB Procurement, for the construction of PSA Supply Chain Hub @ Tuas.
The construction project, consisting of warehouse buildings, gate buildings, main intake substation and ancillary buildings at Tuas Port, is expected to be completed by the third quarter of 2027.
It will form part of Tuas Port and will be built to achieve Green Mark Platinum Super Low Energy, an eco-sustainable rating under the Building and Construction Authority’s Green Mark certification scheme. This means that it will achieve at least 60 per cent energy savings.
Soilbuild Construction’s executive director Lim Han Ren highlighted that the Tuas project “is one of the most prominent industrial projects in Singapore awarded to date this year” and that it is “also the largest construction project won by the group in its history”.
“This also marks an important landmark for the group, as the group’s order book is being propelled beyond the S$1.2 billion mark for the first time,” he added.
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The company noted that the contract secured is not expected to have any material impact on the consolidated net tangible assets per share and consolidated earnings per share of the group for the current financial year ending Dec 31, 2024.
Shares of Soilbuild Construction closed on Thursday at S$0.036, up S$0.003 or 9.1 per cent, before the announcement.
