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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.

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"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.