Multi Ways Holdings Secures $17.6 Million Leasing Deal with Singapore's Ministry of Defence, Strengthening its Growth Prospects
14 Junio 2024 - 8:00AM
Multi Ways Holdings Limited (“Multi Ways” or the “Company”) (NYSE
American: MWG), a leading supplier of a wide range of heavy
construction equipment for sales and rental in Singapore and the
surrounding region, today announced a breakthrough equipment
leasing agreement with the Ministry of Defence of Singapore.
The agreement, worth US$17.6 million, is for
leasing advanced machinery and equipment tailored to meet the
specific needs of Singapore's Ministry of Defence. The heavy
construction equipment provided under this deal was selected for
its cutting-edge technology and reliability, highlighting the
versatility and quality of Multi Ways' fleet.
Mr. James Lim, Chairman and Chief Executive
Officer of Multi Ways, commented: "Our agreement with Singapore’s
Ministry of Defence is a testament to Multi Ways' capabilities in
fulfilling the stringent requirements of Singapore’s government.
It’s a major accomplishment and a point of pride for us to gain the
confidence of such a critical national agency. We hope this sets a
foundation for future agreements with government entities,
potentially opening doors to new opportunities within and outside
of Singapore.”
“We are honored to be entrusted by the Ministry
of Defence, Singapore, with this significant leasing agreement,"
said Nick Tan, COO of Multi Ways. "This contract not only boosts
our financial outlook but also validates our strategic focus on
delivering unparalleled equipment solutions. As we expand our
market presence, this deal exemplifies our ability to secure and
execute large-scale contracts, reinforcing our reputation as a
leader in the equipment leasing industry. We are committed to
leveraging this success to drive further growth and enhance
shareholder value."
With a robust pipeline of opportunities and a
strong balance sheet, Multi Ways is well-positioned to capitalize
on the growing demand for heavy machinery and equipment solutions.
We are dedicated to continuing our path of innovation and
excellence, ensuring sustainable growth and long-term value for our
stakeholders.
As Multi Ways continues to excel in delivering
high-quality and reliable equipment solutions, this deal marks a
key milestone in expanding into sectors requiring the highest
operational excellence. The Company is committed to continuing its
track record of excellence and looks forward to supporting the
Ministry of Defence in its operations.
About Multi Ways Holdings
Limited
Multi Ways Holdings supplies a wide range of
heavy construction equipment for sales and rental in Singapore and
the surrounding region. With more than two decades of experience in
the sales and rental of heavy construction equipment business, the
Company is widely established as a reliable supplier of new and
used heavy construction equipment to customers from Singapore,
Australia, UAE, Maldives, Indonesia, and the Philippines. With our
wide variety of heavy construction equipment in our inventory and
complementary equipment refurbishment and cleaning services, Multi
Ways is well-positioned to serve customers as a one-stop shop. For
more information, visit www.multiwaysholdings.com.
Safe Harbor StatementThis press
release contains forward-looking statements. In addition, from time
to time, we or our representatives may make forward-looking
statements orally or in writing. We base these forward-looking
statements on our expectations and projections about future events,
which we derive from the information currently available to us.
Such forward-looking statements relate to future events or our
future performance, including: our financial performance and
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competitive environment of our business. These and other factors
may cause our actual results to differ materially from any
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Investor Relations
Contact:Matthew Abenante, IRCPresident
Strategic Investor Relations, LLCTel:
347-947-2093Email: matthew@strategic-ir.com
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