SINGAPORE (Feb 3): Specialist engineering service provider Acromec has secured a $19.5 million sub-contract at a new 12-storey health and medical care building in the Singapore General Hospital Campus, the group announced Monday.
Acromec will supply, deliver and install air-conditioning and mechanical ventilation systems at the medical building, which intended for acute care and it will include an accident and emergency facility, acute medical wards, and isolation rooms.
The project will commence in the second half of FY2020 ending September, and is expected to be completed by December 2022.
“This is a sizeable and longer duration project as compared to our other projects which typically runs for less than a year. It will therefore provide more stability and visibility to our revenue, order book and resource planning,” says Lim Say Chin, executive chairman and managing director of Acromec.
The sub-contract is expected to contribute positively to Acromec’s earnings per share and net tangible assets per share for FY2020.
Shares in Acromec closed 0.6 cent lower, or down 7.5%, at 7.4 cents on Monday, before the announcement.
