Managing director Lim Boon Kheng says he is “pleased with the good order intake”. However, he is bracing himself for a hit in orders and a consequent decline in the company’s earnings for this FY2020 ending Dec 31. “The current market environment presents numerous uncertainties going forward in terms of the Covid-19 pandemic, low oil and gas prices and a weak global economic environment,” he tells The Edge Singapore in an interview.
SINGAPORE (May 29): Things are looking up for systems integrator CSE Global, despite the ongoing health-turned-economic crisis and resulting oil prices slump. The company clinched $127.2 million in new orders for 1QFY2020 ended March, across its operations in oil and gas (O&G), infrastructure and mining. This is a 46.6% increase from the $86 million worth of orders secured in 1QFY2019, the company announced on May 4.
The bulk of the 1Q orders of some $87.8 million came from customers in the O&G sector, while $25.5 million was from its infrastructure operations. The remaining $13.9 million comes from the mining sector. Together with existing projects, CSE’s order book amounted to $302.7 million as at March 31, up 66.9% from 1QFY2020.
