Chasen snags $38.4m worth of contracts

Chasen Holdings has secured $38.4 million worth of new contracts in Asia and the United States, the group said yesterday.

Of these, a US$9.3 million (S$12.7 million) specialist relocation contract clinched by its wholly owned US subsidiary Chasen (USA) marks the third phase of its involvement in a large vehicle product manufacturing plant.

This contract is expected to have a positive impact on the group's results for its current financial year, said the provider of third-party logistics, technical and engineering services.

Other specialist relocation contracts were secured by its Chuzhou-based subsidiary from China-based manufacturers of thin-film transistor liquid-crystal display and organic light-emitting diode panels.

Chasen said it has also secured new relocation contracts from multinational manufacturers of solar panels in Malaysia and Vietnam, and semiconductor multinational corporations in Singapore.

The total value of these Asia-based projects, which will contribute to Chasen's FY2019 performance, is about $12.6 million.

Over at its third-party logistics business division, $3 million worth of new contracts were secured to provide warehousing and transportation, including for firms in Malaysia and Singapore.

The group's technical and engineering business division also clinched about $10.2 million worth of new contracts in Singapore and China.

A version of this article appeared in the print edition of The Straits Times on June 28, 2018, with the headline 'Chasen snags $38.4m worth of contracts'. Print Edition | Subscribe