SKK Holdings Secures $26.6M in Singapore Utility Contracts

SINGAPORE, Singapore SKK Holdings Limited (NASDAQ: SKK), a civil engineering service provider specializing in subsurface utility works, announced that its wholly-owned operating subsidiary, SKK Works Pte. Ltd., has secured six new contracts for horizontal directional drilling and utility works in Singapore. Valued at up to approximately US$26.6 million (S$34.1 million), this represents the largest block of new work announced by the company to date.

The awards comprise five fixed-price subcontracts totaling approximately US$19.6 million (S$25.2 million) for horizontal directional drilling works from multiple building and civil engineering contractors and a leading telecommunications network operator. Additionally, a sixth fixed-price subcontract valued at approximately US$7.0 million (S$8.9 million) was awarded for utility works connected to a project by a Singapore statutory board.

These contract awards coincide with SKK Holdings' previously announced upcoming acquisition of Rantizo's drone-based technology assets for approximately US$258.8 million, which recently received shareholder approval. The company emphasizes that its civil engineering business will continue to operate and contribute to consolidated results alongside the new technology platform.

Contract Highlights

• Total aggregate value of up to US$26.6 million (S$34.1 million).
• Five subcontracts for horizontal directional drilling (HDD) valued at US$19.6 million.
• One utility works subcontract valued at US$7.0 million.
• Multi-year platform for telecommunications infrastructure and HDPE pipe installation.