SKK Holdings Limited (NASDAQ: SKK), a civil engineering service provider specializing in subsurface utility works in Singapore, today announced that its wholly-owned operating subsidiary, SKK Works Pte. Ltd., has been awarded six new contracts for horizontal directional drilling and utility works in Singapore.
Together, the awards carry an aggregate value of up to approximately US$26.6 million— the largest block of new work the Company has announced to date and a direct reflection of the strength of its core subsurface utility business and its long-standing position in Singapore’s public infrastructure market.
The six awards were granted by separate Singapore-based customers. Five are fixed-price subcontracts with an aggregate value of approximately US$19.6 million awarded by multiple building and civil engineering contractors and by a leading telecommunications network operator in Singapore, for the supply and installation of HDD works. The sixth is a fixed-price subcontract valued at approximately US$7.0 million for utility works in connection with a project of a Singapore statutory board.
HDD is a trenchless installation method that allows underground utilities — including pipes, conduit and cables — to be installed along a controlled underground path with minimal surface disruption, making it well suited to dense urban environments such as Singapore.
SKK Works’ scope across the six awards encompasses preliminary works, procurement, mobilization, and the supply and installation of HDPE pipes and related works, performed in compliance with the applicable specifications of each customer.
SKK shares hiked $3.08, or 73.3%, to $7.28.
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