Chasen Holdings Limited announced that its subsidiaries from two of its business segments have successfully secured new projects amounting to SGD 34.2 million despite the prevailing economic challenges. The Specialist Relocation segment amassed a total of SGD 22.5 million of which SGD 20.7 million (USD 15.2 mil) came from Chasen-USA. This relocation project is for the first wing of a lithium-ion rechargeable battery manufacturing plant in the state of Kansas.

The project has commenced in April and will run through till March 2025. The remaining S$1.8 million comes from Singapore-based Liten Logistics, which had secured several relocation contracts for MRT and construction projects. Two subsidiaries from the Technical & Engineering segment had secured two projects valued at S$11.6 million.

Singapore-based Hup Lian Engineering was awarded another solar panel installation project worth SGD 9.6 million. This project starting in August 2024 involves the installation of solar panels atop 144 HDB blocks in Sengkang, Bedok and Yishun, is expected to be completed by end 2025. Chasen's contract manufacturing entity in the PRC, Promax Suzhou had secured a contract valued at SGD 2.0 million (USD 1.5 mil) to manufacture and assemble e-scooter travel luggage for its foreign-owned PRC-based customer.

The production has started and the customer shall take delivery of the first 330 e-scooter luggage at the end of May. These projects will be executed during the new financial year starting in April 2024 and the revenue will be recorded according to the financial year that the projects are executed. Barring any unforeseen circumstances, the Group anticipates a positive contribution to its financial performance for the year ending 31 March 2025 and will continue to leverage its expertise to secure more projects amid the turbulent and challenging economic landscape ahead.