King Wan Wins $28.3 Million Worth of M And E Contracts

Edge07-15

King Wan Corporation has won contracts worth some $28.3 million between April and June.

The contracts are for mechanical and electrical work at projects including the proposed residential flats development at Beach Road / Nicoll Highway; a food factory development at Kallang Way; as well as a landed housing development at the Luxus Hill Heights area.

These contracts are to be fulfilled by 2028 and are not expected to have any significant impact on the earnings per share or net tangible assets per share for the financial year ending March 31 2026.

For its FY2025 ended March, King Wan reported earnings of $3.44 million, down 72% y-o-y to $12.4 million. Revenue in the same period was down 9% to $86.76 million.

King Wan shares closed at 3.8 cents on July 14, down 2.56% for the day but up 26.67% year to date.

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