CHASEN Holdings has secured new projects in specialist relocation services and third-party logistics (3PL) worth S$12.4 million in total.

Two were signed by its China-based subsidiary, to provide move-in services for two thin-film-transistor liquid-crystal display (TFT LCD) manufacturers in Fujian province and Guangdong province.

Both of these projects are scheduled to begin in the second half of this year, with one to be completed by March 2022 and the other by May 2022.

The group's core business is in specialist relocation, which involves workers using specialised material handling tools, equipment and vehicles to relocate the customer's machinery and equipment within its premises, from one location to another within a country, or abroad.

Meanwhile, Chasen's 3PL subsidiary in Malaysia clinched the other fresh contract, to provide cross-border trucking service of power tools for a German engineering and technology multinational corporation, from China to Penang. This 3PL project will run from June to December 2021.

Chasen said the new orders will build on its business recovery from the initial impact of the Covid-19 pandemic.

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Low Weng Fatt, Chasen's managing director and chief executive, noted that the group will continue to leverage opportunities in the specialist relocation and 3PL segments to grow its market share and customer base.

Chasen's mainboard-listed shares fell 1.5 per cent or 0.1 Singapore cent to finish at 6.4 cents on Wednesday, before the announcement.