King Wan Corp secures M&E contract worth $11.7 mil

SINGAPORE (Feb 11): King Wan Corporation announced that it has secured a new mechanical & electrical (M&E) project in Singapore worth $11.7 million.

Secured during the period from Oct to Dec 2018, the project involves the supply and installation of complete system for sanitary, plumbing, gas, rainwater system, rainwater drainage, waste discharge and sanitary wares & fittings at The Florence Residences.

The residential development is located at Hougang Avenue and comprises nine blocks of 18-storey residential flats with 1,140 units, basement carpark, swimming pool and communal facilities.

The project is scheduled to be completed by 2022.

Chua Eng Eng, managing director of King Wan, says, “The Group has continued to secure M&E contracts amidst the very competitive business sector. The Group has maintained its versatility in undertaking M&E projects that require different skill sets. Our clients had continued to believe in our ability to deliver value that exceed their expectations. The current order book of $167.6 million has provided high revenue visibility for the group. We will continue to actively manage operation costs and efficiency during these very challenging times. King Wan is committed to build on its strengths in the M&E business and seize good business opportunities when they arise.”

Shares in King Wan closed at 13 cents on Monday.