For the period, order intakes surged by 82.9% y-o-y to $301.6 million, compared to $164.9 million in 3QFY2022.
As at Sept 30, it had built up an order book of $638.0 million.
Lim Boon Kheng, the company's group managing director and CEO, believes that with this robust order book, coupled with a positive turnaround in the financial performance of the business in the Americas, CSE is well positioned to achieve a “much better” financial performance in 2023.
“The current global economic outlook and inflationary pressures continue to present uncertainties in the markets we operate. Despite this, we expect existing and new customers to continue to support and award us with a steady flow of small greenfield and brownfield maintenance projects," says Lim.
See also: Keppel Pacific Oak US REIT’s 1QFY2025 distributable income falls by 19.3% y-o-y to US$9.6 mil
Together with the receipt of two major contracts totalling $150.6 million announced in October, Lim believes CSE is well-positioned to further strengthen its order book for the rest of 2023 and beyond. “We anticipate more order opportunities in the Infrastructure sector in the coming quarters and are on track to achieve a record $1 billion order win for this year,” he adds.
CSE Global shares closed 0.5 cents or 1.15% down at 43 cents on Nov 9.
