Koh Brothers Eco secures $186 mil contract from HDB

Amenities are plentiful, with The Myst Condo offering residents convenience stores, a 24-hour gym and also a basketball court. Residents can also find many shopping options at the nearby HillV2 mall, while Bukit Timah Plaza is a short drive away.

Koh Brothers Eco Engineering 5HV 0.00% announced the successful awarding of a lucrative contract to its joint venture company (JVCo). Secured from the Housing & Development Board (HDB), this $186.0 million contract will see the JVCo involved in the building of a Kallang Integrated Development.

The project scope includes a variety of tasks such as the construction of public housing, a covered linkway, road expansion works and other communal facilities. As well as a child care centre, fire protection system and landscaping works.

Paul Shin, CEO of Koh Brothers Eco, remarked on the news: “We are pleased to leverage on our building expertise to support this unique, integrated public project that’s located along the Kallang River, with close proximity to the Kallang MRT station”.

He went on to add that the company’s order book will be uplifted to $703.2 million and the visibility for the order book extended until 2027.

The joint venture is also involved in the ongoing mechanical, electrical and instrumentation control and automation (MEICA) works at Tuas Water Reclamation Plant. This will generate a steady, recurring maintenance income post-completion in 2025.

At the close of trading on June 13, shares in Koh Brothers Eco were at 3.3 cents.

This project is part of a larger plan to invigorate the Singapore public construction sector. To this end, the Building & Construction Authority has recently announced a banding system for construction quality assessment.

Turner & Townsend have also advocated collaborative contracting, which could help re-energise the construction recovery within the country.

Koh Brothers Eco is in a prime position to capitalise on the demand in the public sector with the help of its deep expertise in construction and civil engineering.