Chasen bags contracts worth S$20.6m in FY2017

MAINBOARD-LISTED Chasen Holdings has so far clinched contracts worth S$20.6 million for the financial year ending March 2017.

The contracts for specialist relocation services include a US$12 million job secured by wholly owned Chasen (USA) Inc for a factory in the United States, a S$2 million contract awarded to Chasen Logistics Services for a semiconductor wafer manufacturing plant in Singapore and an RM5 million (S$1.6 million) job bagged by Chasen Logistics Sdn Bhd for a Japanese-owned semiconductor manufacturing plant in Malaysia.

Works on the projects commenced last year and are expected to be completed between March and July this year.

Chasen said the US and Singapore projects would spill over into financial year 2018 and that it is confident of clinching prospective and bigger contracts across its other business segments.

In addition to improving its revenue, the group will also continue to streamline administration in the various subsidiaries to cut overall administrative costs and improve the group's margins and profitability, it said in a statement.