Soilbuild Construction Group - SAC Capital 2024-05-02: Emerging Stronger; A Remarkable Recovery In 2H23

• Soilbuild Construction Group (SGX:S7P) has been in the construction business for over 40 years since 1976. The Group is A1-graded under CW01 and A2-graded under CW02. This allows the Group to tender for all types of building works of unlimited contract value and for civil engineering projects with contract value of up to S$105 million.
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Company background

• In 2015, Soilbuild Construction was awarded a concept and price tender for the development of the third Integrated Construction and Prefabrication Hub (ICPH) out of the current 6 ICPHs in Singapore. This hub is a fully automated offsite manufacturing facility for precast components. The 3-storey building has 2 production floors and one office floor level. The highly automated process will further reduce the Group’s reliance on foreign workers and improve productivity. Precast slabs are produced in the hub and transported to construction sites to be assembled.
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• Some of Soilbuild Construction’s flagship properties are Solaris and Eightrium @ Changi Business Park (business parks), West Park BizCentral (ramp-up industrial development) as well as Tuas Connection (land-based factories).

Dividend yield of 3.1%

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June Yap SAC Capital Research | Matthias Chan SAC Capital | https://www.saccapital.com.sg/ 2024-05-02 SGinvestors.io

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