Chasen Holdings
It has secured S$8.2 million worth of fresh projects in China and Southeast Asia, underscoring recovery of its logistics businesses from the COVID-19 pandemic.

A RMB5 million (S$1 million) project involves relocating a 6th Generation OLED module panel assembly factory in Guangzhou, Guangdong Province.

A second contract worth S$0.6 million is to manage the factory relocation of a US-owned Taiwan-based semiconductor customer. 

Both projects are scheduled for completion by March 2021.

Revenue recognition for the PRC project commenced in 2HFY2021, while revenue from the Taiwan project will be recognised in FY2021.

equipment relocate

In the Third Party Logistics segment, Chasen’s Malaysian subsidiary secured three contracts worth RM20 million (S$6.6 million) to deliver electronic and semi-conductor parts for two US MNCs with manufacturing plants spanning Singapore, Malaysia and the PRC.

These one-year tenure contracts secured by Penang-based City Zone Express Sdn Bhd underscore the growing demand for cross-border land freight amid higher costs and restricted capacity for sea and air freight due to disruptions caused by COVID-19.

Cross-border operations have commenced for the first two contracts while the third contract will commence in Q4FY2021.

These projects build on the momentum of business recovery that began when Chasen announced S$21 million of new contracts at end July 2020.

The latest contracts lifted fresh orders (since FY2020) to S$29.2 million.

Mr Low Weng Fatt, Chasen’s Managing Director and CEO, said, “The recovery from the disruptions caused by the pandemic is clear and gaining momentum for our two logistics segments. The electronics sector, especially in the PRC, is witnessing good orders, which favour our leadership position in Specialist Relocation while our 3PL is benefiting from robust demand in cross-border land freight services and warehousing in Southeast Asia and East Asia.”



SGflyer8.14
Straco Corporation
Its “Singapore Flyer” has a new attraction, the “Time Capsule”, which was launched by Mr Alvin Tan, Minister of State for Trade & Industry, and Culture, Community and Youth.

Spanning across two levels, the Time Capsule is an immersive and multisensory attraction, offering guests who visit the opportunity to rediscover the Singapore Story.


Singapore Flyer and its Time Capsule are open from Thursday to Sunday and on public holidays from 3pm until 10pm with the last admission to Time Capsule at 9.15pm.

Singaporean may use their SingapoRediscovers vouchers to purchase tickets online for an experience at one of Singapore’s most iconic landmarks in Marina Bay. Visit: https://www.singaporeflyer.com/en

 


Share Prices

Counter NameLastChange
AEM Holdings4.3400.050
Avi-Tech Electronics0.315-0.005
Broadway Ind0.184-
China Sunsine0.445-
DISA0.004-
Food Empire0.535-
Fortress Minerals0.4500.025
Geo Energy Res0.4200.005
Golden Energy0.7500.010
GSS Energy0.059-0.003
InnoTek0.540-0.005
ISDN Holdings0.5500.005
ISOTeam0.108-
IX Biopharma0.1720.001
Jiutian Chemical0.1070.001
KSH Holdings0.3550.005
Leader Env0.059-0.001
Medtecs Intl0.1860.001
Meta Health0.038-
Moya Asia0.056-0.001
Nordic Group0.4250.010
Oxley Holdings0.174-
REX International0.295-
Riverstone0.7250.005
Sinostar PEC0.215-0.005
Southern Alliance Mining0.6800.060
Straco Corp.0.420-
Sunpower Group0.400-
The Trendlines0.103-
Totm Technologies0.1440.002
UG Healthcare0.225-
Uni-Asia Group1.0300.020
Wilmar Intl4.1600.030
Yangzijiang Shipbldg0.9200.015

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 551 guests and no members online