Koyo unit bags electrical contracts

Published Fri, Mar 27, 2020 · 10:34 AM

KOYO International announced on Friday that its wholly-owned subsidiary Koyo Engineering (South-east Asia) has been awarded a number of electrical contracts that will lift the group's current order book to S$116 million.

The contracts, which were handed out by an independent third party, have various contract periods; the latest contract end-date is in the first quarter of March 2022.

The contracts on hand have completion dates ranging from financial years 2021 to 2026.

The contracts are expected to contribute positively to the earnings of the group for the financial year ending Dec 31, 2020, said Koyo.

None of the directors or substantial shareholders has any direct or indirect interest in the contracts, other than through their shareholding interests in the company.

Koyo shares closed flat at S$0.06 on Friday.