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Sysma Holdings Awarded $18.6m Contract To Build Two-Storey House

Sysma Holdings, via its fully owned subsidiary Sysma Construction, has secured an $18.6 million contract with a property owner to build a two-storey detached house at 28 Jalan Kampong Chantek.

In an SGX filing, the catalyst-listed builder revealed that the property will feature a basement, an attic and a swimming pool.

It noted that the 20-month contract will commence once a demolition permit is issued by the relevant authority.

More: 10 Facts About Good Class Bungalows

Last year, the Business Times reported that the freehold property was bought by Super Group co-founder Ronald Te for $27.59 million, or $1,003 psf on its land area of 27,504 sq ft.

The existing two-storey house comes with seven bedrooms, an attic and a swimming pool. With a built-up area of around 11,000 sq ft, the vacant house sits within the Swiss Club Road Good Class Bungalow Area.

Sysma Holdings does not expect the contract to materially affect the group’s earnings per share or net tangible assets per share for the financial year ending 31 January 2019.

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