Sanli M&E Engineering, a wholly-owned subsidiary of Sanli Environmental 1E3 , has secured contracts in Singapore with an aggregate value of $35 million.
On Jan 22, the environmental engineering company announced the contract wins, which encompass a diverse range of projects and maintenance services.
These include servicing and maintenance of multiple water plants for the public utilities board (PUB), the overhaul of 6.6KV Induction Motors for Tuas Power, the comprehensive maintenance of the Flower Dome external shading system at Gardens by the Bay and replacing the sump pump system and relocating control panels at a facility in Marina Bay for the Urban Redevelopment Authority (URA).
The projects will also contribute significantly to the company’s current order book, which now stands at approximately $335.9 million. The majority of the order book is expected to be fulfilled over the next three years.
Sanli CEO Sim Hock Heng says the achievements signify the expansion of its clientele with the addition of organisations such as Tuas Power, Gardens by the Bay and URA. “We will continue to build up our order book to drive our growth, by leveraging our strong environmental engineering expertise and track record. We have also moved to our new premises at 22 Chin Bee Drive, which houses our corporate office, workshop, and dormitory in one location and allows us to enhance our efficiencies while lowering our long-term operating costs,” he adds.
While the financial impact on earnings per share or net tangible assets per share for the FY2024 ending March 31 is expected to be minimal, Sanli expects the contracts to positively contribute to its financial performance in the subsequent FY2025.
See also: Kingsmen renews F1 contracts for $53.2 million
Shares in Sanli Environmental closed unchanged at 10.1 cents on Jan 22.
