1802.T Stock Today: December 31 – S$281m LTA Brickland MRT Win
Brickland MRT is now confirmed, with Singapore’s LTA awarding Obayashi a S$281 million design-and-build contract for the new North-South Line infill station and its viaduct. Main works start in the first half of 2026, with passenger service targeted for 2034. For investors, this long-dated project expands Obayashi’s rail backlog in Singapore and supports multi-year revenue visibility. We review what the win means for commuters, how it could factor into 1802.T’s profile, and the key milestones and risks to watch from a Singapore lens.
What the Obayashi contract covers
The package includes detailed design, civil works for the station, and an associated viaduct on the North-South Line in Singapore’s west. LTA says site preparation is under way, with main construction slated to begin in 1H 2026 and operations planned for 2034. This is a complex, live-line infill build that must maintain train services safely. Details: source
The new stop improves access for growing residential estates and shortens bus-MRT transfer times in the west. By adding track connections and platforms on an operating line, the project aims to reduce travel times to the city and key hubs for more households. Brickland MRT should also ease peak crowding by spreading passenger loads across more entry points on the North-South Line.
What it means for 1802.T investors
Obayashi Corp (1802.T) gains a S$281 million order that supports multi-year revenue from 2026 through the next decade. Infill rail builds tend to be executed in staged phases, smoothing recognition. The announcement adds to a steady Singapore pipeline and keeps Obayashi engaged in complex transit civil works, a strength that can help defend margins if costs and schedules are managed well.
Shares last traded around ¥3,269, near the ¥3,333 year high, with a P/E of 13.69, P/B of 1.95, and dividend yield near 2.47%. Price has risen 41.29% over 1 year and 25.61% over 6 months. Next earnings announcement is expected on Feb 9, 2026. On Meyka metrics, quality and balance sheet are solid, though cash flow consistency remains a watch item.
Technical view and near-term catalysts
Trend strength is firm, with RSI at 64.14 and ADX at 49.36. Price sits below the upper Bollinger Band of ¥3,359 as of the latest read, suggesting room but with moderating momentum. ATR around 59.5 points to normal volatility for the name. Traders may watch the ¥3,300–¥3,360 zone for reaction and volume confirmation before any sustained move.
Key milestones include construction mobilisation in 2026 and regular progress updates from LTA. Investors should track tender news flow in Singapore and Japan, raw material costs, and labour availability. Currency swings between JPY and SGD can affect reported results. Execution risk is typical for brownfield rail works, so schedule buffers and variation orders will be important signals.
Singapore market context
LTA’s award reflects steady investment in capacity and connectivity. The Brickland MRT station fills a gap on the North-South Line and supports growth in the west. The contract winner and scope were confirmed by the Business Times with a S$281 million value, underscoring continued demand for complex civil projects in Singapore’s transit network. Reference: source
The stock is listed in Tokyo, so access typically runs through global brokerage accounts that trade Japanese equities. Investors can also consider diversified construction or Japan-focused funds for indirect exposure. Be mindful of currency risk, sector cyclicality, and project execution updates. Tracking Brickland MRT progress and other LTA awards offers added context for position sizing.
Final Thoughts
Brickland MRT is a meaningful addition to Singapore’s North-South Line and a solid, long-duration win for Obayashi. The S$281 million package adds backlog depth and supports revenue visibility as main works begin in 2026, with service planned for 2034. For investors, the stock trades near its year high with reasonable valuation multiples and a modest yield. We would watch three things next: construction mobilisation updates in 2026, new order inflows across Asia, and currency movements that can shape reported earnings. If execution holds and Singapore’s transit pipeline stays active, the project should provide a steady tailwind rather than a single-step change. As always, diversify and size positions to your risk tolerance.
FAQs
Site preparation is ongoing, with main works scheduled to start in the first half of 2026. Passenger service is targeted for 2034. The multi-year phasing reflects the complexity of building an infill station on an operating North-South Line while keeping daily train services safe and reliable for commuters.
At S$281 million, it is a sizeable civil package for a single station plus viaduct in Singapore. While mega-lines cost far more, this infill scope still requires specialist design, staging, and safety controls. The value supports multi-year revenue recognition and fits Obayashi’s strengths in complex transit projects.
It improves backlog visibility and confirms continued demand for Obayashi’s expertise in Singapore. The stock trades near its year high with a P/E around 13.7 and a dividend yield near 2.5%. Execution, cost control, and currency moves remain the key variables for earnings and valuation from here.
Monitor LTA announcements for construction milestones and any schedule updates. For the stock, watch quarterly results, order intake, and guidance from Obayashi. Price action near recent highs and technical indicators like RSI and ADX can help gauge momentum, but fundamentals and risk management should lead decisions.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
