Sysma Holdings Limited secures S$10.4m contract to build Nassim Road bungalow

Still preferred builder for good class bungalows.

Catalist-listed Sysma Holdings Limited (Sysma) announced that its subsidiary, Sysma Construction Pte Ltd (SCPL), has secured a contract worth approximately S$10,400,000/- in total for the erection of a two-storey bungalow at Nassim Road. SCPL is a 100% subsidiary of Sysma. The contract will commence in September 2013 for a period of 20 months.

To date, the Group has constructed more than 105 bungalows in Singapore, of which 29 are in Sentosa Cove, but starting 2012 has diversified into property development.

Mr. Sin Soon Teng, Executive Chairman and Chief Executive Officer of Sysma Holdings Limited, said: “We are pleased to secure this contract to build another good class bungalow (GCB) for an established private owner. Besides our forte in building GCBs, Sysma has also diversified into property development. We will be marketing our first property development which is a mix of shop units and studio apartments in Race Course Lane soon”.

The Group is principally engaged in providing building construction services to the private sector in Singapore and is typically appointed as the main contractor for its projects. It has also since diversified into property development.

None of the directors or substantial shareholders of Sysma has any interest, directly or indirectly, in the above contract.