Structural steel specialist T T J wins $12 million in new projects in the region
SINGAPORE – 7 December 2016 – T T J Holdings Limited (“T T J” or together with its subsidiaries, the “Group”) announced today that it has secured new contracts worth $12 million in Singapore and Mlaysia. With these, the Group’s order book as at 07 December 2016 stands at $42 million1. The new projects, a few of which the Group has already commenced work, are expected to be substantially delivered between FY2017 to FY2018.
In Singapore, T T J has secured another contract to supply and install the fixed gangway at Changi Airport Terminal 1, following its first Terminal 1 gangway project in October 2014. Separately, T T J has secured a contract to supply, fabricate and install structural steelwork at Choa Chu Kang Waterworks. The Group also clinched the job to supply a series of civil defence shelter doors for the MRT Thomson-East Coast Line. Over in Malaysia, the Group won a contract from a repeat customer to supply, fabricate and install structural steelwork for the refinery and petrochemical integrated development project (“RAPID”) in Pengereng, Johor. This marks the third job T T J has won for this mega project in Pengerang, Johor.
T T J’s Chairman and Managing Director, Mr Teo Hock Chwee (张福水) said, “Even though the current economic and operating landscape is intensely competitive, we believe our overarching strategy, which is to target projects with better yields whilst maintaining cost efficiency, puts us in a good position to sustain business growth. We are actively pursuing all feasible business opportunities that fit our capabilities and requirements to deliver quality work to our customers and ultimately, value to our shareholders.”
The Group also announced its results for the three months ended 31 October 2016 (“1QFY2017”) today, reporting a net attributable profit of $4.1 million on the back of a 4% rise in revenue to $26.5 million.
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About T T J Holdings Limited
With a history that can be traced back to 1981, T T J is one of the largest structural steel fabricators based in Singapore with a current combined annual maximum production capacity of 42,000 tonnes of normal steel structure at its fabrication facilities located in Singapore and Johor, Malaysia. The Group’s core business lies in the design, supply, fabrication and erection of a wide spectrum of structural steelworks for use in the construction of buildings, factories, plants and infrastructure. The Group also operates one dormitory in Singapore with a total capacity of 500 persons. Since 1 April 2010, T T J is listed on the Mainboard of the Singapore Stock Exchange. For more information, please go to http://www.ttj.com.sg/.
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1 A portion of the order book has been recognised as revenue for T T J’s 1QFY2017 financial results.