SINGAPORE (Apr 28): Koyo International has won a Mechanical & Engineering contract worth $31 million from an independent third party.
The contract was signed through Koyo Engineering (S.E. Asia), a wholly owned subsidiary of the company.
The project will begin in June, and will take 45 months to complete.
Koyo says the latest contract will lift the group’s current order book to $140.4 million. The contracts on hand are expected to be completed from financial years 2021 to 2026.
The contracts are expected to give Koyo International’s earnings a boost for the group’s financial year ending December.
Shares at Koyo closed flat at 6.6 cents.
