Singapore’s built environment comprises mainly residential and commercial areas. These require regular repair and upgrading, as mandated by government regulations. This has spawned demands for building maintenance and refurbishment services.  

Isoteam Ltd  (SGX: 5WF) is a leader in Singapore’s building maintenance and estate upgrading industry. It is one of the rare listed companies in this sector, having floated its share in 2013.  

In this article, we will take a closer look at its financials, growth prospects, and how it had been heavily involved in Singapore’s estate upgrading scene. 

Business Overview 

Isoteam provides repair, maintenance, and upgrading services to building owners and town councils under its Repairs and Redecoration (R&R) division. The Addition and Alteration (A&A) division undertakes government renewal projects such as the Neighbourhood Renewal Programme and Hawker Centres Upgrading Programme. 

In FY2019, A&A contributed half of the total revenue. As for R&R, it’s share of total sales was 20%.

The group is also involved in