SOILBUILD Construction Group : S7P +19.05% has clinched S$140.4 million in new contracts, bringing its total order book to S$492.7 million as at end-October, the company announced in a Monday (Dec 12) bourse filing.

 

The company&rsquo s S$492.7 million order book comprises S$384.6 million in construction projects and S$108.1 million in precast supply and delivery projects.

 

SB Procurement, a wholly-owned unit of Soilbuild, has been awarded a contract by the Housing and Development Board for building works at Toa Payoh Neighbourhood 1. The project involves two residential blocks, a multi-storey carpark and a community club. It is scheduled to start in Q4 this year and is set to be completed by Q2 of 2027. 

 

Another unit of the company, Soil-Build (Pte.) Ltd, has been awarded a construction contract for piling works at Pasir Ris. This is scheduled to start in Q4 and set to be completed by Q2 2023. 

 

&ldquo These new projects are a positive sign that our construction business is regaining momentum along with the gradual recovery of the construction sector. With the addition of these two projects, our order books have also been replenished to a healthy level while we will continue to position ourselves to take on new projects in the coming year,&rdquo said Lim Han Ren, Soilbuild&rsquo s group general manager. 

Soil-Build, the wholly-owned subsidiary of Soilbuild Construction Group, has been awarded a construction contract worth $55.2 million on Oct 25.

 

The contract is for additions and alterations made to an existing three-storey single user industrial development with other ancillary facilities at Benoi Sector, Singapore.

 

The project is scheduled to start in the fourth quarter of 2022 and to be completed by the third quarter of 2023.

Soilbuild Construction Group&rsquo s subsidiary Precast Concrete has been awarded two contracts involving the fabrication, supply and delivery of precast concrete components.

 

The first contract involves the fabrication, supply and delivery of precast concrete components including Prefabricated Prefinished Volumetric Construction (PPVC) works for a Housing and Development Board (HDB) build-to-order (BTO) project in Tengah, Singapore. The project is expected to commence in 1Q2023 and to be completed by 2Q2025.

 

For the second contract, precast concrete components will be supplied and delivered for a project which involves improvement works for a hospital in Alexandra Road, Singapore, which is expected to commence in 4Q2022 and to be completed by 2Q2023.

 

The approximate value of the aforementioned contracts is in the region of $50.0 million.

 

The contracts awarded brings the group&rsquo s latest order book to approximately $358.0 million as of end June, which comprises $258.6 million for construction projects and $99.4 million for precast supply and delivery contracts.

 

The contracts awarded are 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.

 

FOUR more Singapore-listed companies warned of net losses for their results for the six months ended June 30, 2020, mostly due to government-mandated operating suspensions amid the Covid-19 pandemic.

 

Mainboard-listed Soilbuild Construction Group on Friday said it expects to report a " significant" net loss for H1 due to operating losses arising from the suspension of activities at sites/factories.

 

Other factors contributing to the expected loss are a provision for losses from certain projects in Singapore due to extended construction periods, and an increase in construction cost for certain projects.

 

The company reported a net loss of S$1.8 million for H1 2019. It expects to release its results on Aug 11.

 

Meanwhile, construction and property firm BBR Holdings on Thursday evening said it expects to report a deeper net loss as Singapore' s " circuit breaker" and Malaysia' s movement control order resulted in a suspension of operations and a drop in overall business volume. It reported a net loss of S$6.9 million for H1 2019. 

 

Budgeted project costs of ongoing projects have also increased due to delays in project schedules, the " slow and gradual" restarting of projects at a lower level of productivity due to government safety measures, and additional costs incurred to comply with the measures, the mainboard-listed firm added. 

 

Hotel Properties Limited did not provide reasons for its expected loss announced on Thursday evening. The mainboard-listed company reported a net profit of S$3 million for Q2 2019. It will release its results on or before Aug 14.

 

Engineering firm Koyo International on Thursday evening said its expected loss is mainly due to a " significant" decline in revenue from the suspension of major business activities and operations. The Catalist-listed company reported a net profit of S$327,000 for H1 2019. It will release its results on or before Aug 14.