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CSE Global bags S$114.9m in new orders for Q2, order book up 57% y-o-y
MAINBOARD-LISTED firm CSE Global secured S$114.9 million in new orders for the second quarter of 2020, an 8.5 per cent increase from a year ago.
The growth in new orders was driven by the infrastructure and the mining-and-minerals segments. Infrastructure pulled in S$38.2 million in orders – a 19.9 per cent rise; mining and minerals took in S$22.8 million worth of orders, or 65.5 per cent more. Total order value for the oil-and-gas segment slid 10.6 per cent to S$53.8 million.
The order book stood at S$293.8 million as at June 30, a 56.6 per cent growth from S$187.6 million in Q2 last year.
CSE Global is a systems integrator, focusing on providing and installing control systems and turnkey telecommunication network and security solutions for the oil-and-gas, infrastructure and mining industries.
The group has more than 1,300 employees worldwide, and operates a network of 41 offices.
Temasek unit Heliconia Capital Management emerged as a substantial shareholder last month, following an acquisition of a 25.03 per cent stake through a married deal with Malaysia's Serba Dinamik International.
Shares in CSE ended trading at S$0.48 on Tuesday, up S$0.02 or 4.35 per cent.