KUALA LUMPUR (Feb 13): Newly listed ISF Group Bhd (KL:ISF) has clinched a RM10 million subcontract for cold-water and sanitary plumbing systems at a serviced apartment project.
The award, secured by wholly owned subsidiary Yeo Plumber Sdn Bhd, was granted by Kerjaya Prospek (M) Sdn Bhd, a unit of listed construction group Kerjaya Prospek Group Bhd (KL:KERJAYA).
Completion is slated for March 15, 2029, according to a bourse filing on Friday.
Managing director Jeff Ai Boon Chen said the contract marks a strong start for ISF following its recent listing on Bursa Malaysia.
He added that Malaysia’s development landscape remains supportive, underpinned by Budget 2026 allocations for industrial, data centres, infrastructure, and residential projects.
“These structural drivers are expected to sustain demand for reliable piping and plumbing solutions. With fresh capital from our listing, ISF is well positioned to undertake larger and more complex projects,” he said in a statement.
As at Dec 9, 2025, ISF’s unbilled order book stood at RM120.68 million, comprising RM117.47 million in end-user premises piping projects and RM3.21 million in infrastructure works. Earnings visibility is now up to the financial year ending Dec 31, 2028.
By Friday’s midday break, ISF shares had slipped two sen or 4% to 48.5 sen, valuing the company at RM485 million. The stock was up 47% from its 33 sen listing price on Jan 28 — just over two weeks ago.