SYSTEMS integrator CSE Global secured S$186.2 million worth of new orders in Q1 ended Mar 31, 16.7 per cent higher than the previous year.
The growth was “driven by stronger demand for electrification and automation solutions in the infrastructure and energy industries”, CSE said in a bourse filing on Tuesday (Apr 30).
Its automation segment saw the greatest growth, with orders rising 65.4 per cent to S$51.8 million. The company had received more orders for waste treatment centre expansion in Asia-Pacific.
Meanwhile, CSE’s electrification business segment saw a 6 per cent rise in new orders to S$82.9 million. Demand for electrification solutions remained robust with a “strong pipeline” of projects, said CSE.
Orders in the communications segment grew 2.9 per cent to S$51.6 million, with the business remaining stable despite delays in communications projects in Australia and New Zealand.
Chief executive Lim Boon Kheng said that the company is encouraged by the strong orders in Q1. Its order book stood at S$719.3 million as at Mar 31.
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“We expect order intake momentum in 2024 to remain robust as we expand our engineering capabilities and technology solutions. We plan to leverage the urbanisation, electrification, and decarbonisation mega trends, which will serve as CSE’s growth drivers going forward,” Lim said.
CSE ended Tuesday flat at S$0.425, before the announcement.
