Soilbuild Construction lands around S$163M contract to build industrial factory project

Mural of construction gear in Singapore's Little India neighborhood.Mural of construction gear in Singapore's Little India neighborhood.

Soilbuild Construction has landed a contract from SB (Ipark) Investment to erect four eight-storey and nine-storey blocks of a multiple-user general industrial factory development for a total of around S$162.5 million, the company said in a filing to SGX Monday.

The project, which will include a carpark, industrial canteen and other facilities, is located at Tai Seng Avenue, Soilbuild said.

The contract brings the group’s orderbook to around S$551 million as of the end of September, plus new orders since then, Soilbuild said.

Around S$505.3 million of the orderbook is from construction projects, while S$45.7 million is for precast supply and delivery contracts, Soilbuild said.

The contract is considered an interested-person transaction as the project owner is a wholly owned subsidiary of Soilbuild Group, which counts Lim Chap Huat, Soilbuild Construction’s executive chairman, as its sole shareholder, the filing said.

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