Building maintenance and estate upgrading company ISOTeam 5WF announced that it has won $50.7 million worth of new contracts led mainly by public sector upgrading works, which formed more than half of the projects secured.
To be delivered between June 2023 and March 2026, the new contracts has lifted the group’s order book to $195.1 million as at May 29.
The new contracts comprise 14 projects in total, with projects ranging from interior design, mechanical and engineering (M&E), repair and redecoration (R&R), coating and painting, addition and alteration, as well as landscaping.
Anthony Koh, group executive director and CEO says: “The number of projects that are up for tender continues to gain steam, reflecting the steady recovery of the construction industry and the gradual easing of short-term labour supply challenges. We expect this growth momentum to continue as the industry makes up for time lost during the pandemic. With ISOTeam’s multidisciplinary capabilities and renewed focus on our core construction-related business, we believe the group is positioned to capture this uptrend in demand for maintenance and upgrading works.”
Shares in ISOTeam last traded 17.5% higher on May 26 at 9.4 cents.
