Alpina secured contracts worth about $216.9 mil in 1H2023

Samantha Chiew
2-min read

Alpina ends 1H2023 with $216.9 mil worth of contracts secured from public and private sectors.

Alpina Holdings announced that it has secured $216.9 million worth of contracts in the first half of 2023 (ended June 30).

In a filing released on Jul 3, the group says that it has secured a total of 13 contracts during the period, with majority of the contracts being public sector project, whereby a town council in Singapore, a statutory board of the Singapore government or a ministry of the government is the project owner.

Of the 13 contracts, two term contracts worth a total of about $0.5 million are for the licensing of electrical installation for two town councils in Singapore. This is expected to be completed in March 2026.

Seven term contracts are for the provision of mechanical & electrical systems maintenance and additions & alteration works for a ministry of the government, a local construction company, a town council and two statutory boards of the government. The total sum of the contracts stands at about $93.4 million. The projects are expected to be completed by June 2027.

One of the term contract is for the provision of managing agent services and improvement works for a statutory board. The contract is worth about $5.7 million and is expected to complete by May 2025.

Another one term contract is for the servicing and maintenance of fire protection system for a local town council. This is contract is about $0.1 million and is expected to complete by March 2026.

The other two contracts require the group to undertake the design, installation, construction, testing and commissioning of the solar photovoltaic systems for Novasix and an engineering design and consultancy services company. The total provisional contract sum is $117.2 million and is expected to complete by December 2024. This includes the contract with a provisional contract sum of approximately $117.0 million awarded by Novasix as announced on Apr 6. As at Jul 3, Digo Corporation, a wholly-owned subsidiary of the Alpina, owns a 51.0% shareholding interest in Novasix.

Low Siong Yong, Alpina’s executive chairman and CEO says: “Notably, we have also added new contracts from the private sector which will further augment our track record, particularly within the renewable energy sector in Singapore. The contracts provide visibility for our future and we will continue to proactively tender for new projects to strengthen our project pipeline.”

Shares in Alpina closed at 19 cents on Jul 3, down from its IPO price of 31 cents. The counter listed in January 2022.

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