ISOTeam to benefit from HDB's home improvement programme

By Samantha Chiew / The Edge Singapore | June 12, 2018 4:44 PM SGT
ISOTeam, the facilities management specialist, sees itself as a potential beneficiary of refurbishment initiatives, improved property sentiment and national push towards greener environment.
With the Housing Development Board (HDB) expecting more than 139,000 homes to benefit from the home improvement programme (HIP), management sees opportunities for further contract wins given its leading market share in repairs & redecoration (R&R) and addition & alteration (A&A) of the public landscape, in terms of overall revenue.
In an unrated report on Monday, CGS-CIMB Securities analyst Ngoh Yi Sin says, “After including the $52.6 million order wins announced on May 24, ISOTeam’s order book increases 62% to $133 million, of which 47% stems from public projects (vs. over 80% historically) and reflects its diversification into the private sector.”
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