ISOTeam clinches $1.8m contract from Sunseap

It will install renewable energy systems in Tampines.

ISOTeam has snapped up a $1.8m contract to install renewable energy systems on the roofs of 33 blocks of flats in Tampines.

According to the company’s announcement, the contract was inked through ISOTeam’s subsidiary Raymond Construction and was awarded by Sunseap Leasing. This deal also marks the group’s first foray into the renewable energy installation sector.

Under the contract, ISOTeam will install grid-tied solar photovoltaic systems on the roofs of 33 blocks at Tampines Streets 32, 42, 43, 44 and 45 and Avenue 9.

“We hope to work together with Sunseap on many more of the 831 blocks it has to deliver under its tender, or with other players in the industry on similar future projects. We believe there is growth potential for ISOTeam in this area and have set up a new division to helm this business,” commented Anthony Koh, ISOTeam’s executive director and CEO.

ISOTeam asserts that this deal is not expected to materially impact ISOTeam’s earnings per share and net tangible assets per share for FY16.

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