Singapore-listed diesel engine propulsion solutions provider XMH Holdings has secured new contracts worth over SGD23.1 million (USD17.1 million).
One of the contracts was secured by Z-Power Automation (ZPA), in which XMH had acquired 80% equity stake back in March 2015. ZPA has bagged six new contracts, including lift boat electrical packages worth approximately SGD1.3 million from a Vietnamese Shipyard, anchor handling tug supply (AHTS) vessel electrical packages worth SGD0.5 million from a Malaysian shipyard, and LNG terminal tug electrical packages worth SGD2.3 million from a local shipyard.
ZPA has also secured dredger support vessel electrical and oil tanker electrical packages worth approximately SGD0.5 million, the supply of electrical cables and electrical panels to a Japanese shipyard worth around SGD1.7 million, and ‘original equipment manufacturing’ for a Japanese engine maker, with the contract valued at approximately SGD1.4 million.
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XMH cited in the Singapore Exchange filing that half of the contracts will be delivered by the end of October 2015, while the remaining contracts are expected to be delivered between 2015 and 2016.
Meanwhile, Mech-Power Generator, another subsidiary of XMH, has secured two contracts worth SGD15.5 million for standby power generating units.
The first contract, worth approximately SGD7.8 million, is for a data centre project and is expected to be fulfilled in September 2015. The second contract, worth around SGD7.7 million, is for a healthcare centre. The contract is due for delivery between September 2015 and March 2017.