Addvalue Technologies has won new orders worth some US$2.1 million from two customers, including one which is new, according to a market filing on July 6.
This follows a US$1.46 million order just announced on July 3.
The orders announced on July 6 were for the supply of multiple InterSatellite Data Relay System (IDRS) terminals.
The customers, according to Addvalue, are two "leading space technology" companies, one of which is a new customer.
"This demonstrates our growing presence in the space and satellite industry," says CEO Tan Khai Pang in the announcement.
"Due to non-disclosure obligations, the group is currently prevented from disclosing further details about the new orders and the customers involved," the company says.
See also: Nera Telecommunications secures contract renewal worth $30 mil
With the new orders announced on July 6, its total book has reached US$17.9 million.
Barring any unforeseen circumstances, Addvalue expects the new orders to be substantially fulfilled within the next 12 months and have a material positive impact on the current financial year.
Addvalue Technologies shares closed at 1.5 cents on July 4 down 11.76% for the day but up 50% year to date.
