Sanli wins S$54.3m deals to boost order book to S$134.4m
The Business Times
by TAY PECK GEK
CATALIST-LISTED environment engineering firm Sanli Environmental has clinched S$54.3 million contracts, boosting its order book to S$134.4 million.
The company in a press statement announced that the new contracts are for its two main business segments - engineering, procurement and construction (EPC) and operations and maintenance (O&M). These orders are expected to contribute to its revenue for the financial year ending March 31, 2019.
Under the EPC contracts, Sanli will supply, install, commission and test equipment at water reclamation plants. The most significant win was a sub-contract from Boskalis/ Penta-Ocean joint venture, for the supply and installation of mechanical (water management) package works at Pulau Tekong. The Boskalis/ Penta-Ocean joint venture is the main contractor for the landmark polder development project at Pulau Tekong. This sub-contract is expected to contribute to Sanli's revenue for the next four years from FY2019.
Under the O&M contracts, Sanli will provide maintenance services for drainage, sewerage and aeration systems.
Sanli chief executive officer Sim Hock Heng said: "We are greatly encouraged by these recent contract wins, especially amid the current challenging operating environment. This reflects the level of confidence our customers have in our capabilities. The group will continue to leverage our established track record to secure more contracts and grow the business further."
Sanli made a net profit of S$1.8 million for the half year ended September, up 168.8 per cent from S$658,000 a year ago.
Sanli last traded unchanged on Nov 12 at 25 Singapore cents.