SINGAPORE, June 14, 2024 (GLOBE NEWSWIRE) -- Multi Ways Holdings Limited ("Multi Ways" or the "Company") (NYSE:MWG), a leading supplier of a wide range of heavy construction equipment for sales and rental in Singapore and the surrounding region, today announced a breakthrough equipment leasing agreement with the Ministry of Defence of Singapore.
The agreement, worth US$17.6 million, is for leasing advanced machinery and equipment tailored to meet the specific needs of Singapore's Ministry of Defence. The heavy construction equipment provided under this deal was selected for its cutting-edge technology and reliability, highlighting the versatility and quality of Multi Ways' fleet.
Mr. James Lim, Chairman and Chief Executive Officer of Multi Ways, commented: "Our agreement with Singapore's Ministry of Defence is a testament to Multi Ways' capabilities in fulfilling the stringent requirements of Singapore's government. It's a major accomplishment and a point of pride for us to gain the confidence of such a critical national agency. We hope this sets a foundation for future agreements with government entities, potentially opening doors to new opportunities within and outside of Singapore."
"We are honored to be entrusted by the Ministry of Defence, Singapore, with this significant leasing agreement," said Nick Tan, COO of Multi Ways. "This contract not only boosts our financial outlook but also validates our strategic focus on delivering unparalleled equipment solutions. As we expand our ...