Chasen Holdings Secures S\$70.8 Million in New Projects Amid Economic Challenges

Key Highlights

• Total new projects secured: S\$70.8 million
• Strong performance from Specialist Relocation segment: S\$54.5 million secured, with S\$44.4 million from Chasen-USA (C-USA)
• Major contracts in the US supporting EV battery manufacturing (Jeffersonville, Ohio and De Soto, Kansas), with project durations stretching to July 2027
• Technical & Engineering segment secures S\$16.3 million in Singapore, including large-scale solar panel installations and scaffolding service contracts
• Business diversification and international exposure across Singapore, Malaysia, China, and the USA

Detailed Project Breakdown

Specialist Relocation Segment

• Chasen-USA (C-USA):
  • Secured two major projects totaling S\$44.4 million (US\$34.3 million)
  • Projects involve move-in, installation, and hook-up of equipment for:
    • A Japanese-Korean consortium in Jeffersonville, Ohio
    • A Japanese multinational corporation in De Soto, Kansas (follow-up to a project secured in April 2024)
  • Both projects support the fast-growing lithium-ion battery sector for electric vehicles
  • Project timelines:
    • Ohio project: August 2025 – April 2026
    • Kansas project: Starts second half of November 2025, to be completed by July 2027
• Other subsidiaries (S\$10.1 million):
  • Chasen Logistics Services Limited (CLSG):
  • Relocation projects for a Taiwanese company, moving in machine foundation and production equipment for a semiconductor fab plant in Singapore (July 2025 – 2026)
  • Two warehousing service contracts at the new Chasen Logistics Hub, with one contract spanning three years (Oct 2025 – Sep 2028)
  • Chasen Logistics Sdn Bhd (CLSB):
  • First phase of equipment move-in for a Taiwanese-owned integrated circuits manufacturing plant in Penang (Oct 2025 – Jan 2026)
  • Chasen (Chuzhou) Hi-Tech Machinery Services Pte Ltd (HTC):
  • Relocation services for a PRC-based 8.6 Generation TFT LCD plant in Zhejiang Province (June – Dec 2025)

Technical & Engineering (T&E) Segment

• Total value: S\$16.3 million (Singapore)
• Hup Lian Engineering (HLE):
  • S\$14 million in solar panel installation projects atop HDB blocks and commercial buildings
  • Projects run from April 2025 through early 2028, supporting Singapore’s green and sustainable energy initiatives
• Goh Kwang Heng Scaffolding (GKHS):
  • Two contracts worth S\$2.3 million for scaffolding services, including walkways and water tank installations

Management Commentary

Mr Low Weng Fatt, Managing Director and CEO:
“Despite the challenging geo-political situation, Chasen is confident in maintaining our resilient momentum. Our new logistics hub has also attracted new enquiries, and we are especially delighted with the securing of a new longer tenure contract (from new customer) for our warehouse management services. We are particularly encouraged by our Specialist Relocation and Technical & Engineering segments and their potential to leverage new industry opportunities. We remain committed to operational efficiency, prudent resource allocation, and strategic market engagement to drive long-term shareholder value.”

Shareholder and Investor Takeaways

• Potential Revenue Growth: The S\$70.8 million in new projects represent robust forward revenue, with significant contributions from long-tenured contracts (up to 2028).
• Diversification and Resilience: Chasen’s project wins span key growth sectors such as EV battery production, semiconductor manufacturing, and renewable energy, reducing reliance on any single industry or geography.
• Business Expansion in the US and Asia: Major wins in the US (for the EV supply chain) and continued growth in Singapore, Malaysia, and China position Chasen as a global logistics and engineering player.
• Positive Momentum Despite Macro Headwinds: The company’s ability to secure large contracts during ongoing economic and geopolitical uncertainty demonstrates operational strength and market confidence.
• Potential Share Price Catalyst: The scale, diversity, and duration of these project wins are notable and may be viewed positively by the market, given their impact on revenue visibility and Chasen’s long-term growth profile.

About Chasen Holdings Limited

Chasen Holdings Limited is a Singapore-based investment holding company with subsidiaries offering integrated solutions in Specialist Relocation, Technical & Engineering, and Third-Party Logistics services. The Group operates across Singapore, Malaysia, Vietnam, China, India, and the USA, serving industries such as semiconductors, EV & battery production, GreenTech, consumer electronics, telecommunications, ordnance, and construction. Its diversified revenue streams and strong customer relationships underpin resilience and sustainable growth.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors should perform their own due diligence and consult with financial advisors before making investment decisions. The author and publisher accept no liability for any direct or indirect loss arising from the use of this information.

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