SINGAPORE (Nov 26): Mainboard logistics specialist Chasen Holdings has secured two new contracts in China through its wholly-owned subsidiary, Chasen (Shanghai) Hi-Tech Machinery Services.

Th contracts, worth a combined RMB34 million ($6.8 million) and awarded by a repeat customer, is for the provision of specialist relocation services in China for a flat-panel display production plant and a semi-conductor fabrication facility.

The RMB9 million move-in contract for the semiconductor fabrication plant requires Chasen to move equipment and machinery for the pilot line of the customer’s maiden wafer fab facility, located in Kunming, the capital city of Yunnan province.

The entire project will run from January 2019 to May 2020 while the installation of the pilot line would be completed in four to six months from project commencement.

The other contract, worth RMB25 million, requires Chasen’s move-in services for the first phase of a two phases project for a Generation-10.5 thin-film transistor (TFT) LCD production plant in Wuhan, capital of Hubei province.

Chasen will start work on the first phase from April 2019 and be completed by December 2019.

Both projects are expected to have a positive impact on Chasen’s results for the next financial year starting April 1.

They come just weeks after Chasen announced the award of a $9.9 million contract to provide move-in and warehouse management services for a cutting-edge organic light-emitting diode (OLED) display panel manufacturing plant in Guangdong province.

Chasen has been on the Singapore Exchange’s (SGX) watch list since June 2017 and is mulling several options that it believes can facilitate its exit from the watch list.

As at 2.37pm, shares in Chasen are up 0.1 cent at 7.5 cents.