Solar panel installation project on 33 HDB blocks in Tampines.
We are especially proud of our work
for the 4.2 km Punggol Waterway,
the longest man-made waterway
in Singapore. Boasting over 6,000
sq m of 35 plant species on the
banks of the waterway, Punggol
Waterway is an award-winning
project for HDB. Given HDB’s plans
to extend its green innovations
to other new estates, such as in
Bidadari and Tampines North, we
believe the high-value work we have
done for the waterway puts us in an
advantageous position. We currently
have four ongoing landscaping
projects which we expect to
complete by July 2020.
Leasing of access provision
equipment (“AP”)
This unit achieved two key
milestones in FY2016 comprising
the full implementation of its fleet
management system and its fleet
renewal. We renewed and added
52 scissor lifts and 24 boom lifts
in FY2016, bringing our total fleet
strength to 177 and lowering the
average age of our fleet from 14
years to nine years. Able to reach
greater heights, our modernised fleet
will allow us to derive better rental
income from our equipment and
enhance our capacity to serve the
needs of our customers, reducing
the need for third party equipment.
They will also cut down fleet
maintenance costs for the Group.
Waterproofing (“WP”)
We completed three projects
comprising 23 blocks for the Pasir
Ris-Punggol and East Coast Town
Councils as well as a residential
dwelling in Seraya Avenue in FY2016.
As at 30 June 2016, we have two
other waterproofing projects on hand.
Eco-friendly solutions (“ES”)
We consolidated our foothold in
the renewable energy space in
Singapore in FY2016 by winning our
first job to install solar panels (Grid-
Tied Solar Photovoltaic Systems)
in 33 HDB blocks in Tampines that
was worth around $1.8 million in
February 2016. This was followed by
another project to install fuel cells
(Emergency Fuel Cell Operating
Power Systems) for some blocks
in Punggol in August 2016. We
also continued to innovate and
broaden our range of eco-friendly
products and technologies during
the year and launched RevoFlor,
an in-house brand of Methyl
Methacrylate (
“MMA”
) system and
anti-slip floor treatment, which we
have successfully tested at a number
of National Environment Agency
(
“NEA”
) and Town Council projects.
In addition, we are undergoing
development and testing for
fireproofing intumescent paint
and exploring new products such
as fireproof electrical cables and
trays. Given the pace of the Green
trend in Singapore and the strong
government encouragement, the
renewable energy segment is an
exciting growth area for the Group.
ISOHomecare.com
Our one-stop digital handyman
portal accounted for a minor
portion of Others segment’s
revenue. To better address the home
maintenance needs of property
owners in Singapore, we expanded
our range of services to include
waterproofing and carpentry services
in FY2016 and launched our mobile
app. In the coming months, we
also plan to intensify our advertising
initiatives for ISOHomecare.com.
Order Book
The Group has a record order
book totaling $94.1 million as at
3 August 2016 which it expects to
progressively deliver over FY2017
and FY2018. Approximately $44.0
million was won in the first half of
FY2016 and $50.1 million in the
second half, reflecting the strong
pace of order book build-up the
Group continues to enjoy year round.
In addition, the Group also has
around $5.7 million in contracts
pending award confirmation. They
include three projects comprising
R&R jobs from the NEA and the
Ministry of Health and a re-roofing
project at Selegie Road.
27
ISOTEAM LTD.
ANNUAL REPORT 2016
