Kori Holdings, a Singapore-based multi-discipline engineering and construction services company, has been awarded two contracts in two projects worth a total of $52.3 million between May to June.
The contracts were signed by Kori Holdings’ wholly-owned subsidiary, Kori Construction.
This brings the value of the total number of contracts signed since September 2020 to June to $133.5 million.
The projects were awarded by Samsung C&T Corporation for the supply and installation of temporary steel works of the North-South Corridor between Novena Rise and Toa Payoh Rise, and Hwa Seng-Chye Joo-Ho Lee joint venture for the supply, installation, dismantling and buy back of steel struts and walers at the North-South Corridor between Pemimpin Place and Sin Ming Avenue.
“We are pleased to have been awarded these contracts for the North-South Corridor. This not only affirms our long-standing proven track record established over the years, but also signifies the trust and confidence that our customers and partners have in us,” says Hooi Yu Koh, executive chairman and CEO of Kori Holdings Limited.
The contract with Samsung C&T was accepted by Kori on June 28 and is scheduled to be completed in 60 months from its commence in the third quarter of 2021.
The projects are expected to have a positive impact on Kori’s earnings per share (EPS) and net tangible assets (NTA) per share in the financial year ending Dec 31.
Shares in Kori closed flat at 14.5 cents on June 28.
Photo: Getty images
