CSE Global bags two contracts worth S$86.4 million in total
Megan Cheah
TECHNOLOGY solutions provider CSE Global on Tuesday (Aug 1) announced it has secured two contracts worth S$86.4 million in total, in the United States and Singapore.
The first contract is for the design and manufacturing of power distribution centres, as well as the integration of complex electrical and control systems and equipment in the US. The contract is slated for execution from 2024 to 2025.
The second relates to a multi-year maintenance contract for the Singapore government in the infrastructure sector. It will be carried out from the second half of 2023 to 2028.
Both deals were secured after the half year ended Jun 30.
CSE Global said the contracts do not have any material impact on the group’s consolidated net tangible assets per share or earnings per share for the current financial year.
The mainboard-listed group also noted that none of its directors or substantial shareholders have direct or indirect interest in the contracts.
Lim Boon Kheng, CSE Global’s group managing director, said: “These two major projects will strengthen our pursuit in the infrastructure sector and are expected to contribute positively to CSE Global’s financial performance for the financial years 2023 to 2028.”
The group is scheduled to release its half-year results on Aug 10.
Shares of CSE Global closed at S$0.46 on Tuesday, down S$0.02 or 4.2 per cent.
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