Soilbuild Construction Secures Major Contracts Worth S\$85.5 Million

Soilbuild Construction Group Ltd. has announced two new contracts with a combined value of S\$85.5 million, marking significant developments for the company and its shareholders. These contracts are expected to bolster the company’s order book, bringing it to approximately S\$1.23 billion as of 30 September 2024.

Key Contracts and Details

The first contract involves the construction of a 10-storey multiple-user industrial development at Tampines North, Singapore. Awarded to Soil-Build (Pte.) Ltd., a wholly owned subsidiary, by SB (TND) Investment Pte. Ltd., this project is set to achieve the Green Mark Platinum Super Low Energy rating. This rating signifies a building’s best-in-class performance in energy savings, targeting at least 60% energy efficiency. The project is scheduled for completion by the second quarter of 2026.

The second contract, awarded to Precast Concrete Pte. Ltd., another subsidiary, entails the supply and delivery of precast components for a Housing and Development Board public housing project in Bedok, Singapore. This contract is also expected to conclude by the second quarter of 2026.

Impact on Shareholders

Shareholders should note that the Tampines North Project constitutes a mandated interested person transaction under the Company’s IPT Mandate, as it involves SB (TND) Investment Pte. Ltd., a wholly owned subsidiary of Soilbuild Group Holdings Ltd., whose sole shareholder is Mr. Lim Chap Huat, the Company’s Executive Chairman.

The Audit Committee has assured that the transaction terms are normal and not detrimental to the interests of the Company and its minority shareholders. Importantly, these contracts are not expected to have a material impact on the Group’s consolidated net tangible assets per share and earnings per share for the fiscal year ending 31 December 2024.

This development could influence the company’s share price positively, as it strengthens the order book and showcases the company’s commitment to sustainable construction practices.

BY ORDER OF THE BOARD,

SOILBUILD CONSTRUCTION GROUP LTD.

Lim Han Ren, Executive Director and Group Chief Executive Officer

20 November 2024, Singapore