News

April
04

ISOTeam strengthens order book with S$22.0 million in new projects

SINGAPORE, 4 April 2019 – ISOTeam Ltd. (“ISOTeam” or together with its subsidiaries, the “Group”), an established and leading player in Singapore’s building maintenance and estate upgrading industry, has strengthened its order book with S$22.0 million in new projects.

(1) 5 Repair and Redecoration (R&R) projects with a total contract value of approximately S$11.91 million, which are expected to be completed by April 2020;

This includes the following projects:

  • Repair and redecoration works to 12 blocks at Bedok South Road/Avenue 2 and New Upper Changi Road, and localised re-configuration works to market and food centre at Bedok South Road, which is expected to be completed by April 2020; and
  • Repair and redecoration works to 20 blocks at Tampines Street 11/22, which is expected to be completed by January 2020.

(2) Addition and Alteration (A&A) projects with a total contract value of approximately S$4.29 million, which are expected to be completed by April 2020.

This includes the following project:

  • Neighbourhood renewal programme to 5 blocks at Circuit Road and 2 blocks at Pipit Road (ancillary works) and repair and redecoration works to 8 blocks at Pipit Road and Circuit Road, which is expected to be completed by April 2020.

(3) 8 Coating and Painting (C&P) projects with a total contract value of approximately S$3.38 million, which are expected to be completed by January 2021;

This includes the following project:

  • Supply and application of painting for a nature themed attraction, which is expected to be completed by July 2019.

(4) 1 Landscaping (LS) project for the designing and building of floating wetlands system with a contract value of approximately S$1.45 million, which is expected to be completed by March 2020.

(5) 1 Mechanical and Electrical (M&E) project with a contract value of approximately S$0.70 million, which is expected to be completed by May 2019; and

(6) 1 Interior Design (ID) project with a contract value of approximately S$0.27 million, which is expected to be completed by May 2019.

ISOTeam expects to deliver these projects between May 2019 and January 2021.

Executive Director and Chief Executive Officer, Mr Anthony Koh (许统发), said “Order book build-up remains brisk for ISOTeam, which is a strong signal that we are regaining ground in our business areas. Our tender book remains healthy on the back of positive industry sentiments and we plan to actively pursue these potential projects to further grow our order book.”

 

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About ISOTeam Ltd.

Founded in 1998 and listed on Catalist of the Singapore Exchange Securities Trading Limited (SGX-ST) (Ticker: 5WF) on 12 July 2013, ISOTeam Ltd. is an established player in Singapore’s building maintenance and estate upgrading industry with 20 years of Repairs & Redecoration (R&R) and Addition & Alteration (A&A) experience. We have successfully undertaken more than 400 refurbishment and upgrading projects for well over 4,000 buildings and counting since inception. ISOTeam also offers specialist Coating & Painting (C&P) services as well as complementary niche services (Others) through its specialist waterproofing, commercial interior design and home retrofitting, landscaping, access equipment leasing, green solutions, mechanical & electrical engineering works and handyman service subsidiaries. An eco-conscious company, we integrate green methodologies in our projects, and actively work with strategic partners and technology companies to develop and commercialise green solutions / products. ISOTeam’s major customers include town councils, government bodies, and private sector building owners. For more information, please visit www.isoteam.com.sg.

 

Issued by and on behalf of ISOTeam Ltd. by

 

August Consulting

Tel: 65 6733 8873

Silvia Heng, silviaheng@august.com.sg

Wrisney Tan, wrisneytan@august.com.sg

Zavier Ong, zavierong@august.com.sg

 

ISOTeam Ltd. (the “Company”) was listed on Catalist of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) on 12 July 2013. The initial public offering of the Company was sponsored by Hong Leong Finance Limited (the “Sponsor”). This press release has been prepared by the Company and its contents have been reviewed by the Sponsor for compliance with the relevant rules of the SGX-ST. The Sponsor has not independently verified the contents of this press release. This press release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made, or reports contained in this press release. The contact person for the Sponsor is Mr Tang Yeng Yuen, Vice President, Head of Corporate Finance, at 16 Raffles Quay, #01-05 Hong Leong Building, Singapore 048581, Telephone (65) 6415 9886.