SINGAPORE (Jan 22): Environmental engineering firm Sanli Environmental announced Tuesday it has secured two contracts worth a total of $51.5 million from the Public Utilities Board (PUB).

These contract wins will bring the group’s order book up to $185.9 million.

The first is an Engineering, Procurement and Construction (EPC) contract valued at $51 million, with Sanli to be involved in construction works for the replacement of mechanical and electrical equipment at Kranji water reclamation plant.

This contract is expected to contribute to Sanli’s revenue for the next two years from the FY20 ending Mar 31, 2020.

The second is an Operations and Maintenance (O&M) contract worth $0.5 million to provide maintenance services for the replaced mechanical and electrical equipment at the same water reclamation plant.

Sanli says this contract is expected to contribute to its revenue after the completion of the EPC contract.

“We are very excited to have secured a contract of this size from the public sector. We believe our established track record and strong capabilities have given us a competitive edge. This is also an indication of the level of confidence the public sector has in our abilities,” says Sanli CEO Sim Hock Heng.

“The group will continue to leverage on our established track record and work towards securing more contracts to grow the business further,” he adds.

As at 12.50pm, shares in Sanli are trading 3 cents lower, or down 14.3%, at 18 cents. The stock is currently trading near a 52-week low, having fallen from a peak of 31.5 cents in March last year.

Sanli announces $51.5 mil PUB contract wins as share price slides to 52-week low

MSCI boss warns of climate risks

Keppel to acquire 50% stake in European asset manager Aermont Capital for up to $517 mil

Local banks 'resilient' in 2023, but MAS warns of deteriorating asset quality, climate transition risks

The new kings and queens of content

Singapore’s headline and core inflation figures increase to 4.7% and 3.3% in October

UOB Kay Hian lowers MPACT’s TP, DPU on lower contributions from China and further depreciation on forex

Matter of time before Straits Times Index stages rally

About 62.5% of shares in VTAC have been redeemed prior to the despac

Sanli announces $51.5 mil PUB contract wins as share price slides to 52-week low

Related News

Highlights

MSCI boss warns of climate risks

Related News

Singapore households to pay an additional $4 to $9 for water monthly by 2025: PUB

PUB appoints new chief executive

Sanli Environmental to consolidate operations at newly acquired 22 Chin Bee Drive