Sysma unit bags $20m Nassim Road bungalow contract

SINGAPORE - Construction company Sysma Holdings has secured a $20 million contract to build a two-storey bungalow with an attic and a swimming pool at 54 Nassim Road.

The contract between its wholly owned subsidiary - Sysma Construction - and an "established private owner", is expected to start in April 2019 following approval from the relevant authority, and will run for a period of 16 months, the Catalist-listed builder said on Tuesday in a bourse filing.

The company's order book stands at about $80.9 million as at end-March 2019, said Sin Soon Teng, executive chairman and chief executive officer of Sysma Holdings. He added that the company aims to continue building its order book, while maintaining focus on margins and cost.

"We continue to receive requests from high net worth individuals as well as developers to bid for their construction projects," Mr Sin said.

Last December, Sysma Holdings won an $18.6 million contract to build a home in a Good Class Bungalow (GCB) Area. Sysma Construction is set to put up a two-storey bungalow - complete with basement, attic and swimming pool - at 28 Jalan Kampong Chantek, off Dunearn Road, in a deal with what was also described as "an established private owner".