SINGAPORE - Mainboard-listed Ley Choon Group Holdings announced on Tuesday (Aug 23) that it has clinched a S$35.3 million contract from the Public Utilities Board.
The contract involves the laying and installation of a 2km long potable water transmission steel pipeline from Murnane Service Reservoir at Jalan Kampong Chantek to Pan Island Expressway/Rifle Range Road. When completed, the new pipeline will improve the flow and pressure of water supply for residents.
Ley Choon said that with this order the group's unfulfilled order book based on secured contracts rose to S$172 million, keeping it busy with projects for the next two to three years.
Its chairman and CEO Toh Choo Huat said PUB has been a Ley Choon client for more than 26 years.
"We aim to continue to leverage on our expertise in pipe-jacking and micro-tunnelling to tender for more pipe laying projects to strengthen our order book further," he added.
The group is also in the midst of divesting its non-core assets to strengthen its financial position.
Ley Choon said on Tuesday it believes it can allay the concerns of its stakeholders with its strong order book on hand.