Soilbuild bags $162.5m contract for Tai Sheng Avenue factories

Four blocks of 8- to 9-storey factories will be built.

Soilbuild Construction Group has been awarded a contract by SB Investment for the proposed erection of 4 blocks of 8 & 9 storey multiple-user general industrial factory development at Tai Seng Avenue. The project constitutes a carpark, industrial canteen and other ancillary facilities, where the total sum of the contract amounts to $162.5m.

With the award of the project, the company’s order book (as at the end of September 2019 plus new orders after September 2019) stands at approximately $551.0m as of September 2019, of which $505.3m from construction projects whilst, $45.7m coming from precast supply and delivery contracts.

The project would constitute a mandated interested person transaction to which the interested person transaction mandate (IPT Mandate) will apply. The project owner, which is a wholly-owned subsidiary of Soilbuild Group Holdings would be regarded as a mandated interested person for purposes of the IPT Mandate.