Soilbuild bags US$9.4m Myanmar contract

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.