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Starburst Holdings says expects new contract win for its unit
CATALIST-LISTED Starburst Holdings, which specialises in the design and engineering of firearms training facilities, said on Friday that its wholly-owned unit has been informed by a main contractor that more work is on the way.
It said: "Starburst Engineering has been informed by the main contractor of a shooting range specialist and associated works in South-east Asia, which the Subsidiary had tendered, that it has accepted the Subsidiary's proposed sub-contract for shooting range specialist and associated works."
The group is waiting for the main contractor to prepare the official contract agreement, it said.
It will provide an update as and when a definitive agreement is entered into between Starburst Engineering and the main contractor.
Starburst shares rose one cent or 2.44 per cent to S$0.42 on Friday before the announcement was made.