Alpina Holdings Secures S\$40.8M in New Contracts, Strengthening Growth Prospects

Singapore, 8 January 2025 – Alpina Holdings Limited, a prominent Singapore-based provider of integrated building services (IBS), mechanical and electrical (M&E) engineering, and alteration and addition (A&A) works, has announced the successful acquisition of eight new contracts worth a total provisional sum of approximately S\$40.8 million during the second half of 2024. This development, involving contracts with both public and private sector clients, adds significant growth potential to the company’s project pipeline.

Key Contract Wins

• Private School Projects: Two contracts involving mechanical and electrical maintenance and A&A works, valued at approximately S\$0.6 million, with completion expected by November 2028.
• Fire Protection Services: One contract for maintaining fire protection systems for a statutory board of the Singapore Government, worth S\$0.9 million, set to conclude by September 2027.
• M&E Maintenance for Private Firm: A contract valued at approximately S\$6.5 million, scheduled for completion by August 2026.
• Managing Agent Services: A S\$13.7 million contract for managing agent services and improvement works for a private firm, to be completed by August 2026.
• Development and Upgrading Works: A high-value contract worth S\$13.5 million for a private company, expected to conclude by August 2027.
• Government M&E Services: Replacement, improvement, and maintenance works for mechanical and electrical services for a statutory board, valued at S\$4.0 million, with a July 2027 end date.
• Alteration and Addition Works: A S\$1.6 million contract for A&A and fitting-out works for a private company, to be completed by November 2025.

The aggregate provisional contract sum of S\$40.8 million is indicative and subject to changes based on the actual work carried out. These contracts reinforce Alpina’s ability to secure high-value projects across diverse sectors.

CEO’s Statement

Commenting on the achievement, Alpina’s Executive Chairman and CEO, Mr. Low Siong Yong, said, “Our recent contract wins underscore the resilience of our business model and highlight our capability to deliver value in both public and private sector projects. Moving forward, we aim to continuously innovate and expand our capabilities to strengthen our order book and offer new value propositions to our customers.”

Shareholder Implications

For shareholders, the announcement of S\$40.8 million in new contracts is a potential driver for positive sentiment and could influence Alpina’s share price. The diversity of the projects, spanning government contracts and private sector engagements, strengthens the company’s revenue pipeline while showcasing its robust operational expertise. Additionally, Alpina’s high BCA (Building and Construction Authority) grading, enabling unlimited tendering in the public sector, positions it well for further growth opportunities.

Strategic Renewable Energy Milestone

In addition to its core business, Alpina has made strides in the renewable energy sector through its wholly-owned subsidiary, Digo Corporation. Notably, the company, in partnership with a joint venture, was awarded the sixth solar leasing tender under the SolarNova Programme by HDB. This 70 MWp project involves installing solar panels across 1,198 HDB blocks and 57 government sites, as well as smart electrical sub-meters at HDB blocks, further diversifying Alpina’s revenue streams.

These developments underscore Alpina’s strategic positioning as a key player in Singapore’s construction and renewable energy ecosystem.

Disclaimer

This article is for informational purposes only and should not be construed as financial advice. Investors are encouraged to conduct their own due diligence or consult a financial advisor before making any investment decisions. The information provided is based on Alpina Holdings Limited’s press release dated 8 January 2025.