Hiap Seng Engineering secures three contracts worth S$52m
HIAP Seng Engineering Ltd said it has secured three contracts worth S$52 million in Singapore and Thailand.
One contract was awarded by Sembcorp Project Engineering Company to Hiap Seng to provide engineering, procurement, and construction of new pipelines.
The other two contracts came from Evonik Methionine South East Asia for modular pipe racks and mechanical packages.
"The contract wins from reputable industry players reflect customers' confidence in our capabilities and solid track record of delivering high quality projects on-time and with safety," said Frankie Tan, executive chairman of Hiap Seng.
"We will continue to look for opportunities to add new clients, penetrate new markets and expand our presence in the region," he added.
The group expects a positive contribution to its earnings from the contracts but does not expect any material impact on the net tangible assets or earnings per share for the financial year ending March 31, 2018.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
Stablecoin issuer Tether invests US$200 million in brain-computer interface company
Yahoo to lay off staff in Singapore as it shifts to content curation
US: Wall St opens higher on megacap strength, Fed verdict awaited
IReit Global occupancy rate grows to 91.5% in Q1
Yen surges against US dollar on suspected intervention