SINGAPORE (Oct 20): Kori Holdings, the Catalist-listed engineering and construction services company, announced Friday that it has won four contracts worth a total of $68.3 million.
Wholly-owned subsidiary Kori Construction on Friday was awarded a contract from Lum Chang Building Contractors for the strutting and decking works at the North-South Corridor tunnel between Ang Mo Kio Ave 3 and Ang Mo Kio Ave 9.
The project – the biggest of the four contracts secured between April and October this year – is scheduled to be completed in 60 months from its commencement in 4Q19.
The other three contracts comprise the supply of tunnelling crew for Okumura Corporation Singapore Branch; strutting, waler, traffic deck and utility support for Gammon; and the supply, fabrication, installation, dismantling and buyback of a strutting system and temporary access decking for Nishimatsu Construction Co.
Kori Holdings says the projects are expected to have a positive impact on its earnings per share and net tangible assets per share for the financial year ending Dec 31, 2019.
“We are pleased to have been awarded these contracts for the various strutting and tunnelling projects. This signifies the trust and confidence that our customers and partners have in us. It also affirms our long-standing proven track record established over the years,” says Hooi Yu Koh, executive chairman and CEO of Kori Holdings.
Shares in Kori Holdings closed flat at 29.5 cents on Friday before the announcement.
