CSE Global Limited has signed three contracts amounting to $47.5 million with the Singapore government and the US, to provide automation, communications and electrification solutions.
Two of the contracts will focus on providing electrification solutions to design, manufacture and integrate power distribution centres and electrical systems and equipment in the US, which is slated for execution from 2023 to 2025.
The other contract will be to supply, install, integrate and maintain communication and security systems for the Singapore Government, which will commence from the second half of 2023 to 2034.
Lim Boon Kheng, group managing director of CSE Global, said: “We are pleased that our customers continue to place their trust and confidence in our solutions and services, which are a strong testament to our core engineering expertise and track record in delivering quality projects. These major projects will grow our order book particularly in the area of communications and electrification, and are expected to contribute positively to CSE Global’s financial performance for the current financial year and beyond.”
The group says that these contracts will not have any material impact on the consolidated net tangible assets per share or earnings per share of the group for the current financial year.
Shares in CSE Global closed 0.5 cents lower, or 1.11% down at 44 cents.
