CSE Global secures contract extension worth US$36.5 mil

The project is an extension to the contract the company initially secured in 1Q2022 for the data centre market in the Americas.

CSE Global 544 has announced securing a contract variation worth US$36.5 million ($49.2 million) in the Americas on April 18.

The project is an extension to the contract the company initially secured in 1Q2022 for the data centre market.

The new contract encompasses the design, engineering, fabrication, installation and integration of power management systems and solutions, which are slated for execution from 1Q2024 to 1Q2025.

Group managing director Lim Boon Kheng says: “The award of this contract exemplifies the confidence and trust of our customers in our solutions and services. The data centre market continues to grow due to increased demand for cloud services. We are also investing to double our manufacturing and integration capacity to support this contract.”

While the contract is not expected to have any material impact on the consolidated net tangible assets per share or earnings per share of the company for the FY2024 ending Dec 31, the project is expected to contribute positively to CSE’s financial performance for the FY2024 and FY2025.

Shares in CSE closed 0.5 cents higher or 1.19% up at 42.5 cents on April 18.

See Also:

• Click here to stay updated with the Latest Business & Investment News in Singapore

• iWOW Technology awarded mobile engineering contract worth $10.7 mil

• Soilbuild subsidiaries secure contracts worth $3.6 mil

• CSE Global raises $24 mil from share placement

• Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World

• Get in-depth insights from our expert contributors, and dive into financial and economic trends

• Follow the market issue situation with our daily updates

• Or want more Lifestyle and Passion stories? Click here