Engineering firm CSE Global has won $120.3 million worth of new orders for its 3QFY2021 ended Sept 30, bringing its total order book to $216.8 million.
This total value of contracts won was an increase of 32.2% over this same quarter last year.
Group managing director Lim Boon Kheng notes that the company continues to win steady growth in orders from customers in the energy sector, despite the on-going pandemic.
In addition, the company sees “healthy potential” in the infrastructure sector, as the public sector clients continue to ride on growing secular trends such as digitalisation, automation, physical and cyber-security requirements.
See: ‘Storm is passing’ for CSE Global as it banks on energy order wins from Hurricane Ida
However, he warns that the company’s operations face movement restrictions, longer delivery lead times and overall global supply chain and resource disruptions.
Nevertheless, “we remain optimistic on our prospects as a diversified, multi-sector player with widely transferrable engineering skills at our core,” says Lim.
CSE Global ended Oct 28 unchanged at 51 cents.
Photo: Albert Chua / The Edge Singapore
