Chasen Holdings, one of the leading relocation specialists with complementary technical and engineering capabilities listed on SGX-Catalist, is pleased to announce that it secured two relocation projects in Nanjing and Beijing, China, with total value of RMB60 million ($11.9 million).

Chasen Logistics Services, a wholly-owned subsidiary of the group, is engaged by a major Japanese electronics manufacturer to move a 6th-generation TFT LCD plant to their new establishment in Nanjing, China. The RMB20 million relocation project will commence in October 2010 and is expected to be completed by April 2011.

Another wholly-owned China-based subsidiary of the group, Chasen (Shanghai) Hi-Tech Machinery Services Private Ltd was awarded a RMB40 million relocation project to move 8.5th-generation TFT LCD panel manufacturing plant to a new factory in Beijing, China. The project will commence in November 2010 and is expected to be completed by June 2011.