ISOTeam has secured 23 new contracts worth 30.1 million yuan | Lianhe Zaobao
I'm LongbridgeAI, I can summarize articles.ISOTeam has secured 23 new contracts with a total value of SGD 30.1 million, bringing its cumulative orders to SGD 186.5 million. These projects are expected to be completed within the next two to three years, providing revenue assurance for the company until 2029. The largest contract involves 12 coating and painting projects at Donglingfu, Kalang/Huangpu, and Changi North Slope, valued at approximately SGD 8.3 million, with an expected completion date in September 2029. Other significant projects include maintenance and refurbishment works at Jalan Redhill and Aljunied Crescent. ISOTeam anticipates that public infrastructure and housing projects in Singapore will continue to drive business growth
ISOTeam, a company providing building maintenance and residential upgrade services, has secured 23 new contracts worth a total of 30.1 million yuan.
The company announced on Monday (April 20) after the market closed on the Singapore Exchange that with these new contracts, its cumulative orders will reach 186.5 million yuan.
These new projects are expected to be completed gradually over the next two to three years, providing a certain level of revenue assurance for the company until 2029.
Among these 23 new contracts, the largest amount is for 12 projects in Donglingfu, Kalang/ Huangpu, and Changi North Slope, involving coating and painting work valued at approximately 8.3 million yuan. These projects are expected to be completed by September 2029.
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Other larger projects include two maintenance and refurbishment projects at Jalan Hong San and Opal Crescent, as well as renovation and extension works for two projects in Zhongbang District. These two contracts are valued at approximately 5.1 million yuan and 6.8 million yuan, respectively.
ISOTeam's Executive Director and CEO, Xu Tongfa, stated, "We anticipate that this trend will continue until the end of this year, thanks to Singapore's strong supply of public infrastructure and housing projects. Meanwhile, the government's ongoing improvements to the living environment will continuously create renovation projects that require our capabilities."
The company also revealed that it has received a letter of intent for a regeneration solution project and expects to be awarded a project contract worth approximately 3.05 million yuan at a later date.
The company's stock price fell 1.22% on Monday, closing at 8.1 cents