[SINGAPORE] Catalist-listed Sanli Environmental won a S$281 million contract from the Land Transport Authority (LTA) on Tuesday (Oct 21).
The contract – the largest single contract secured by the company to date – is for the supply and installation of electrical services, for the Cross Island line Phase 1 and the Cross Island line’s Punggol extension.
The new project will bring the group’s order book to S$614.9 million.
The contract was awarded to Sanli’s wholly owned subsidiary, Sanli M&E Engineering and China Railway Electrification Engineering.
Sim Hock Heng, chief executive officer and executive director of Sanli Environmental, said that they would leverage their complementary strengths, technical expertise, and proven execution experience, to complete the project safely and efficiently.
He added: “Looking ahead, we will continue to pursue large-scale projects that align with our growth strategy, expanding our order book and deliver new value propositions for our customers.”
For the latest full year ended Mar 31, Sanli Environmental posted a 48.3 per cent drop in net profit to S$1.5 million, from S$2.9 million the year before. This was due to a rise in cost of contract works, and lower operating margins.
Revenue for FY2025 increased 20.7 per cent to S$157.6 million, from S$130.6 million a year ago. This was driven by robust performance of the group’s operations and maintenance business segment.
As at 11:22 am, shares of the company are down 1.6 per cent or S$0.005 at S$0.305, after the contract was announced.
