SINGAPORE, Mar 19, 2019 - (ACN Newswire) - ACROMEC Ltd today announced that it has been appointed as the nominated sub-contractor for the M&E works for Chew's new poultry farm at Neo Tiew Road, Singapore. The contract has a value of S$7.6 million with a scope of work that encompasses the installation of the air-conditioning and ventilation, plumbing and sanitary, and electrical and fire-protection systems of the farm. All works, which include testing and commissioning, are to be completed by 31 December 2019.
The farm's M&E construction contract ties in and is in addition to the LOI signed by the Group's 80%-owned subsidiary, Acropower Pte. Ltd., with Chew's on 4 December 2018 to BOO a biomass-to-energy power plant. The subsequent extension of the LOI to 4 April 2019, with an eventual view to the execution of a definitive agreement, was announced on 6 March 2019. The power plant will also be situated on the poultry farm and will treat and convert chicken manure from the farm into electricity, which will then be sold back to the farm for its consumption.
Commenting on being appointed as the nominated sub-contractor for the M&E works at the new farm, Mr Lim Say Chin, Executive Chairman and Managing Director of ACROMEC said, "With the award of this contract, ACROMEC is further encouraged by the added trust that Chew's has placed in us. We will continue to do our utmost to deliver quality services to Chew's, both for the construction of this new farm and for the development of a biomass-to-energy plant."
With this contract win, ACROMEC's order book now stands at approximately S$20.0 million. This contract is expected to contribute positively to the earnings per share and net tangible assets per share of the Group for the financial year ending 30 September 2019. None of the Directors of the Company has any interest, direct or indirect, in these contract, other than through their respective shareholdings in the Company. To the best of the Directors' knowledge, none of the controlling shareholders of the Company has any interests, direct or indirect, in these contracts, other than through their respective shareholdings in the Company.
About ACROMEC Limited
ACROMEC (SGX Stock Code: 1CH1) is an established specialist engineering services provider with more than 20 years of experience in the field of controlled environments. The Group has over the years acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.
ACROMEC's business is divided into two main business segments: (i) Engineering, procurement and construction services, specialising in architectural, and mechanical, electrical and process works within controlled environments; and (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure. The Group mainly serves the healthcare, pharmaceutical, biomedical science, research and academia, and electronics sectors.
ACROMEC counts amongst its customers, hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies. For more information, please visit www.ACROMEC.com.
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Mar 19, 2019 23:00 HKT/SGT
Topic: Press release summary
Sectors: Daily Finance
From the Asia Corporate News Network
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