SINGAPORE (Feb 4): CSE Global reported that its business sectors had secured about $230 million of new orders for 4Q19 ended December, bringing its full-year orders for FY19 to $580 million. 

In a regulatory filing on Tuesday, the group says that the new orders secured in 4Q19 included the two new oil and gas (O&G) project contracts in the Americas region worth US$74.7 million ($103.7 million) which were announced on October 29, 2019. 

Notably, $190 million of the orders in 4Q19 were secured by the group’s O&G sector. This brings the sector’s full year orders to $430 million, almost double that of $218 million in 2018. 

The group’s onshore O&G business registered a 21% y-o-y growth in contract wins, while the offshore O&G business booked a 15% y-o-y increase.  

CSE Global’s infrastructure sector bagged $25 million worth of new orders, while the mining sector clinched orders totalling some $16 million. 

With these new orders, the group’s order book as at December 31, 2019 had exceeded $300 million.

CSE Global says that the developments are not expected to have any material impact on its consolidated net tangible assets per share or earnings per share for FY19 ended December. 

Shares in CSE Global closed 1.5 cent higher, or 3% up, at 51 cents on Tuesday.