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PEC wins two new contracts worth S$70 million

PEC Ltd has landed two new contracts worth some S$70 million, lifting its orderbook above S$450 million.

One of the projects is for the provision of mechanical, electrical and installation works within a petrochemical complex on Jurong Island and is expected to be completed by March next year.

Meanwhile, the second project - slated for completion in October next year - is to provide mechanical works for a refinery on Jurong Island.

Robert Dompeling, group chief executive officer, said: "We are pleased at our progress in growing our orderbook. This achievement underscores our efforts and commitment to grow our project pipeline despite the difficult operating environment."

The group expects the latest contracts, secured from existing clients, to contribute to earnings from FY2016.