Interior fitting out service provider Lincotrade & Associates Holdings has secured an asset enhancement initiative (AEI) contract worth $35 million, bringing the group’s order book to $78.0 million for the next two years.
The contract is for an integrated development, comprising service apartments, retail mall and office spaces in Singapore. The AEI works will include interior fitting-out and refurbishment works. It is expected to be completed by June 2024.
“We are very pleased that Lincotrade has been awarded the asset enhancement initiative of $35 million, which is our largest single contract to date, marking a significant milestone after our listing in August 2022,” says Tan Jit Meng, managing director of Lincotrade.
“The new contract reaffirms a key part of our business ambitions to leverage on our market position to take on larger value projects. And more importantly, it also underscores our customers’ confidence in our capabilities to deliver on time and on budget. We will continue to focus on the execution of our existing projects, undertaking them safely, efficiently and sustainably, while actively pursuing new quality projects,” he adds.
Lincotrade is expected to release its results for the 1HFY2022 ended Dec 31, 2022, by Feb 14.
Shares in Lincotrade closed at 17.3 cents on Jan 27.
