CSE Global bags two contracts worth S$27.7 million
Tan Nai Lun
AUTOMATION solutions provider CSE Global has secured two major contracts worth S$27.7 million in the United States, it said in a bourse filing on Monday (Dec 11).
The first contract is for the design, engineering and supply of power distribution centres for manufacturing fabs in the US, which are slated for execution between 2024 and 2025.
The second contract is for the design, engineering, procurement and installation of environmental systems and equipment in the US. This will be progressively executed and delivered by 2027.
CSE Global group managing director Lim Boon Kheng said: “These new contracts will strengthen our pursuit (of growth) in the infrastructure sector, which is currently driven by the growing megatrends of urbanisation and electrification.”
He expects the contracts will “contribute positively” to the company’s financial performance in the financial years from 2024 till 2027.
The company does not expect the contracts to have a material impact on its consolidated net tangible assets per share or earnings per share for the current financial year.
Shares of CSE Global closed 1.2 per cent or S$0.005 lower at S$0.41 on Monday, before the announcement.
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