CSE Global wins S$131.2 million in new orders in Q4 21

CSE Global secured S$131.2 million worth of new orders in the fourth quarter ended Dec 31 2021, up some 33 per cent from a year ago.

This takes its order book to S$229.4 million as at Q4 2021.

About S$85.5 million of the new orders were landed by the group's energy sector, which was higher than the S$63 million secured by the sector in Q4 2020, on the back of higher time and material jobs as well as new power and electrification projects.

New orders for its infrastructure sector rose nearly 27 per cent year-on-year to S$32.1 million, thanks to higher orders of radio communication equipment and solutions, mainly driven by utility and government customers in Australia.

The rest of the new orders came from its mining & minerals sector.

Lim Boon Kheng, group managing director of CSE Global, said: "As we mitigate the global supply chain disruptions induced by the pandemic, we remain optimistic on our long-term outlook. Our diverse set of widely transferrable engineering skills will continue to bode us well in the multiple sectors where we operate."

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The orders are not expected to have any material impact on the consolidated net tangible assets per share or earnings per share of the group for the financial year ended Dec 31, 2021.

The counter closed at 48.5 Singapore cents, down one cent or 2.02 per cent.