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SINGAPORE - Springview Holdings Ltd (NASDAQ:SPHL), a small-cap construction firm with a market capitalization of $10.55 million, has secured a S$1.725 million contract to redevelop two conservation shophouses in Singapore’s Blair Plain Conservation Area, the company announced Tuesday. According to InvestingPro analysis, the company currently appears undervalued based on its Fair Value assessment.
The contract was awarded to the company’s indirect wholly owned subsidiary, Springview Enterprises Pte. Ltd., by Alpha International Investment Pte Ltd. The project involves redeveloping two units of conservation shophouses in accordance with the Singapore Urban Redevelopment Association’s conservation framework. While the company maintains strong liquidity with a current ratio of 2.68, InvestingPro data reveals challenging operating conditions with revenue declining 34% in the last twelve months.
According to the company’s press release statement, the project will be executed under the Singapore Institute of Architects’ Standard Conditions of Contract and is scheduled for completion within 10 calendar months. Springview will be responsible for structural works, regulatory compliance, and coordination to ensure the site meets requirements for Temporary Occupation Permit issuance. InvestingPro subscribers can access 10+ additional insights about Springview’s financial health and growth prospects.
"Being named main contractor for this iconic redevelopment is another major milestone for Springview as we continue to execute on our growth plan," said Zhuo Wang, CEO of Springview Holdings.
The company describes itself as a designer and builder of residential and commercial properties in Singapore with an operating history dating back to 2002. Springview’s services include new construction, reconstruction, additions and alterations, and other general contracting work.
Springview Holdings is listed on the Nasdaq under the ticker symbol SPHL.
In other recent news, Springview Holdings Ltd has announced several significant developments concerning its Singapore operations. The company’s subsidiary, Springview Enterprises Pte. Ltd., has achieved bizSAFE Level 4 certification from Singapore’s Workplace Safety and Health Council. This upgrade from Level 3 indicates compliance with enhanced safety standards, potentially allowing the company to pursue larger projects within Singapore’s construction industry. Additionally, Springview Holdings has obtained CW01 and CW02 certifications from the Building and Construction Authority in Singapore. These certifications will enable the company to bid on small-scale public sector projects, expanding its market reach. Previously, Springview Singapore upgraded to General Builder Class 1, allowing them to undertake projects of any value, which enhances their competitive edge in the market. CEO Zhuo Wang has expressed optimism, stating these certifications align with the company’s long-term growth plans. These developments highlight Springview Holdings’ strategic efforts to broaden its operational scope and capitalize on new revenue opportunities.
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