Skylink Holdings is set to acquire 132 units of commercial vehicles fleet from a third-party seller, which will provide an immediate recurring revenue stream.
This acquisition also forms part of the group’s strategy to optimize vehicle replacement cycles. Skylink’s integrated business model of three core business segments – the group’s commercial vehicle leasing segment is the largest revenue contributor.
The group says that its vehicle expansion and replacement plans are supported by its engineering specialist workshop area which spans 33,000 square feet, including the recently signed lease at Jurong Port Road, for an additional 15,000 square feet.
As at Sept 30, the group has secured a minimum and non-cancelleable contract amount of $25.0 million from its commercial vehicle leasing segment, of which $16.6 million will be recognised within 1 year.
Shares in Skylink closed 1 cent lower or 3.448% down at 28 cents on Dec 3.
