Soilbuild bags US$9.4m Myanmar contract
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It’s for a shopping center’s addition, alteration works. Soilbuild Construction has nabbed a build and design contract worth about US$9.4m, or $13.4m.
According to the company’s media release, as Soilbuild’s second contract in Myanmar, the US$9.4m deal is for the addition and alteration works of St. John Shopping Center in Yangon. It was awarded by a joint venture between two reputable companies in Myanmar, which have activities in retail and real estate development.
The work for St. John Shopping Center is expected to begin in the first quarter of 2016, and is to be completed within 8.5 months from the commencement.
Soilbuild notes that this project is not expected to materially impact the company’s net tangible assets and earnings per share for FY16.
Questions & Answers
Q.What kind of project has Soilbuild Construction been awarded in Myanmar?
What kind of project has Soilbuild Construction been awarded in Myanmar?
Soilbuild Construction has been awarded a build and design contract for the addition and alteration works of St. John Shopping Center in Yangon. This is their second contract in Myanmar.
Q.When is the work on the St. John Shopping Center expected to be completed?
When is the work on the St. John Shopping Center expected to be completed?
The work for St. John Shopping Center is expected to begin in the first quarter of 2016. It is scheduled to be completed within 8.5 months from the commencement date.
Q.Will this project significantly affect Soilbuild's financial performance?
Will this project significantly affect Soilbuild's financial performance?
Soilbuild notes that this project is not expected to materially impact the company’s net tangible assets and earnings per share for the financial year 2016.
Q.Who awarded the contract to Soilbuild Construction?
Who awarded the contract to Soilbuild Construction?
The contract was awarded by a joint venture between two reputable companies in Myanmar. These companies are involved in retail and real estate development activities.