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King Wan secures S$29.5m worth of M&E contracts

MAINBOARD-LISTED King Wan Corporation said on Thursday it has secured S$29.5 million worth of new contracts for mechanical and electrical (M&E) projects in Singapore during the period from December 2015 to March 2016.

One new major project is the installation of electrical, air-conditioning and mechanical ventilation and fire protection systems for a six-storey hotel and clubhouse facilities, including swimming pool and corporate booths at Laguna Golf Green.

The group also secured the contracts to install plumbing, sanitary, gas, electrical and fire protection systems for the Lake Grande - a proposed 710-unit condominium housing development with basement carparks, childcare centre and communal facilities located at Jurong West - as well as installation of air-conditioning and mechanical ventilation systems at Orchid Country Club.

These projects are scheduled to be completed between 2016 and 2018, the group said.

Chua Eng Eng, managing director of King Wan, said: "The current order book of S$164.5 million has provided high revenue visibility for the group till the year 2018. We will remain vigilant in growing new business opportunities and will actively manage operational costs and efficiency. King Wan shall stay committed to growing the group's M&E business and invest when good business opportunities arise."