Potential listing will be subject to market conditions, commercial negotiations and relevant regulatory and approvals
[SINGAPORE] Soilbuild Construction is exploring spinning off and listing its precast and prefabrication business on the mainboard of the Singapore Exchange (SGX).
The potential listing will be subject to market conditions, commercial negotiations and relevant regulatory and approvals, among other things, said the builder in a bourse filing on Tuesday (Oct 21).
Details such as the structure, timing and terms of the potential listing have yet to be determined, it added.
Soilbuild also noted that the process is still at an early stage, and there is no certainty the potential listing will take place. It said further announcements will be made as and when there are material developments.
Financials
For the first-half ended Jun 30, the company recorded net profit of S$28.3 million, surging more than 200 per cent from S$7.4 million in H1 2024. Revenue in H1 2025 was 77.3 per cent higher on year at S$272.8 million.
The stronger financial performance was driven by the group’s two core business divisions: construction, as well as precast and prefabrication in Singapore.
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Revenue from the precast and prefabrication unit rose 77.3 per cent on year to S$59.4 million in H1 2025, driven by higher sales of its products.
Meanwhile, takings from the group’s construction division increased 76.7 per cent on year to S$212.8 million, underpinned by key projects, including the building of PSA supply chain hub at Tuas Port and the construction of a sustainable and energy efficient logistic facilities at Greenwich Drive.
As at Aug 12, Soilbuild Construction’s order book stood at about S$1.19 billion. This includes three new construction contracts and seven new precast supply and delivery contracts, valued at about S$360 million in total.
The precast contracts relates mainly to the supply and delivery of precast components in Singapore for public housing projects by the Housing and Development Board.
Shares of Soilbuild Construction ended Tuesday 6.7 per cent or S$0.23 higher at S$3.65, before the announcement.
