Singapore, 9 January 2025 – King Wan Corporation Limited (庆源企业), a leading Singapore-based integrated building services company, has announced the successful acquisition of new mechanical and electrical (M&E) engineering contracts worth approximately S\$43.7 million. These contracts were secured during the period from October 2024 to December 2024 and are expected to bolster the company’s project pipeline significantly.

Project Highlights

The newly secured contracts include a series of high-value projects across various sectors:

• Sanitary, plumbing, and gas installation works for a proposed condominium housing development comprising 552 units at Pine Grove.
• Sanitary, plumbing, and gas installation works for another proposed condominium housing development comprising 477 units at Lentor Central.
• Supply and installation of air-conditioning and mechanical ventilation works for a civic and community institution development at Upper Bukit Timah Road/Pei Wah Avenue.
• Supply and installation of air-conditioning and mechanical ventilation works for a single-user industrial development at Jurong Port Road.

The projects are slated for completion between 2027 and 2028, providing the company with a steady pipeline of work over the next few years.

Impact on Shareholders

King Wan Corporation stated that these contracts are not expected to have a significant impact on the Group’s earnings per share or net tangible assets per share for the financial year ending 31 March 2025. However, the addition of these contracts strengthens the company’s long-term growth trajectory and reaffirms its position as a leader in the M&E engineering services sector.

For shareholders, the announcement signals the company’s ability to consistently secure high-value projects, which could positively influence market confidence and potentially impact share prices as the projects progress towards completion.

About King Wan Corporation Limited

King Wan Corporation is a Singapore-based company specializing in integrated building services, with a primary focus on M&E engineering services for the building and construction industry. The company offers comprehensive solutions including the design and installation of plumbing, sanitary, and air-conditioning systems, as well as other specialized services such as fire protection, alarm systems, and security systems.

In addition to its core business, the company has diversified into three key segments:

• Property Development: Engaging in the development, marketing, sale, and rental of residential and commercial properties in China and Thailand.
• Vessel Ownership and Chartering: Acquiring vessels for chartering to third parties.
• Workers Dormitory Operations: Designing, building, and operating purpose-built workers’ accommodations and related facilities.

With operations spanning Singapore, China, and Thailand, the Group adopts a multi-country, multi-industry strategy to diversify revenue streams and mitigate investment risks.

Contact Information

For more information, shareholders and analysts may reach out to:

Ms. Ong Ai Ling
Chief Financial Officer
Tel: 6368 4300
Fax: 6365 7675
Email: kwc@kingwan.com.sg