Lincotrade & Associates Holdings has secured two projects with an aggregate contract value of approximately $28.1 million. This follows the company’s reported $8.74 mill loss for FY2023 ended June, which recognised one-off non-cash reverse takeover (RTO) expenses of approximately $10.8 million.
Lincotrade, which is a Catalist-listed company specialising in interior fitting-out services, says that these two new contracts will strengthen its order book to approximately $70.0 million as at Sept 30. This will be generally fulfilled within two years.
Under the two contracts, Lincotrade will provide interior fitting-out services for office spaces in Singapore for a local developer and a customer in the aviation sector. The two projects are expected to be completed by the end of FY2024 and FY2025 respectively.
Lincotrade says these two contracts are not expected to have material impact on the earnings per share and net tangible assets per share of the group for the current financial year ending June 30, 2024.
Lincotrade’s managing director, Tan Jit Meng says: “Our strengthening order book provides visibility over the next few years and we will continue to actively pursue new quality projects. In addition, we will continue to expand and strengthen our capabilities in this sector locally and look into exploring opportunities overseas.”
Shares in Lincotrade closed flat at 28 cents on Oct 17.
