Publish Date : 08-Aug-2012
CNA Group Ltd on Tuesday said it has secured 376 million baht (US$11.93 million) worth of orders from Thailand in the last five months.
Thailand made its maiden revenue contribution to the group in the first quarter of this financial year and with these new orders, it is becoming one of the growth drivers of the group.
The new orders include a Letter of Intent signed between CNA's Thai subsidiary, CNA Advance Limited, and Pyramid Corporation of Japan.
Under the LOI, for a contract valued at 128 million baht, CNA Advance will be the main contractor to design and build Pyramid's new 5,380 sqm factory in Thailand.
The Letter of Award will be signed at the end of August with construction commencing in October 2012 and taking approximately eight months to complete.
Separately, CNA Advance has also secured 248.5 million baht worth of variation orders from Nanotek International Co Ltd. This is in addition to the original contract for the construction and construction management of Nanotek's factory in Thailand, which brings the total contract value to 546 million baht. Phase 1 of construction will start in August 2012 and end in November 2012 while Phase 2 will be in 2013.
The projects will bring the group's total order book to S$84.2 million to date and are expected to contribute positively to the financial results of the group for the current financial year ending December 31, 2012.