CSE Global has announced securing two major contracts worth $87.3 million in the US and Singapore.
The technology company’s first major contract is for the design, engineering, fabrication, installation and integration of complex electrical, instrumentation and control systems and equipment for wastewater treatment plants in the US, which is slated for execution from 2023 to 2027.
The other major contract relates to a multi-year system maintenance contract from the Singapore government in the infrastructure sector.
Group managing director of CSE Global Lim Boon Kheng says: “We are very encouraged to have secured these two major contracts, as our customers continue to leverage on our expertise and place their trust in our solutions and services. Infrastructure remains a key focus area where we are diversifying our business and these wins are testament to the strength of our strategy.”
“These projects are expected to contribute positively to CSE Global’s financial performance for the financial years 2023 to 2027,” adds Lim.
For the current financial year ended December 2022, these contracts are not expected to have any material impact on the consolidated net tangible assets per share or earnings per share of the company.
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Shares in CSE Global closed at 37 cents on Jan 30.