Chasen wins 51m yuan relocation contract in China's Anhui province

SINGAPORE - Specialist logistics company Chasen Holdings has clinched a 51 million yuan (S$10.2 million) relocation contract in China to fit out a flat panel display manufacturing plant.

The contract, which is located in Chuzhou, Anhui province, will involve move-in, warehousing and related logistics services for the factory. The project will run for 16 months from September 2018 to December 2019.

"This is the first project Chasen Hi-Tech has secured in the same neighbourhood since it relocated to Chuzhou from Shanghai in 2017," Chasen managing director and chief executive Low Weng Fatt said in a statement. "Its ability to so quickly land a contract of this scale in Chuzhou reaffirms our established specialist relocation track record in China.

"We expect this project to contribute positively to our overall results for the current and subsequent financial years."

In June, Chasen reported $38.4 million of contracts to be carried out between April 2018 and March 2019.

The company's stock last traded at 7.9 cents on Friday.