New orders for the company’s communications business segment rose by 73.2% y-o-y to $64.8 million, mainly attributable to new orders from the recent acquisitions in the communications business as well as from a major contract for the supply, installation, integration and maintenance of communication and security systems for the Singapore government.
Meanwhile, CSE’s automation business segment grew 14% y-o-y in new orders to $48.7 million, supported by a major multi-year maintenance contract awarded by the Singapore government.
“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,” says CSE group managing director Lim Boon Kheng.
The company closed its 3QFY2023 with an order book of $638 million.
See also: Cosmosteel’s CEO Ong resigns after 3HA Capital offer declared unconditional
Shares in CSE closed 1.5 cents higher or 3.79% up on Oct 31 at 41 cents.
