Mun Siong Engineering inks maintenance deal with JAC

It's a 32-month long contract.

According to a release, the Board of Directors of Mun Siong Engineering has been awarded a term maintenance contract from a new customer, Jurong Aromatics Corporation.

JAC is a privately held business with interest in the manufacturing and sales of aromatics and oil products. They are building a green field world-scale aromatics complex on Jurong Island in Singapore.

The Company is a provider for the provision of specialised maintenance services to JAC. The contract period is for 32 months with an option for further extension.

The Contract will add to the Company’s stream of recurrent income. With this new term maintenance contract that the Company has secured with JAC, it has brought the total number of recurring term maintenance contracts for the Group to eight. The Company is unable to disclose the value of the Contract for confidentiality and competitive reasons.

The Managing Director, Mr. Vincent Quek Chiau Liong commented that, “In winning this term contract with a new customer, the Company has further reaffirmed its position to be one of the leading term service providers to the Singapore process industry; especially in providing specialised works in the industry that demands high quality and safe services.”

Barring any unforeseen circumstances, this Contract is expected to contribute positively to the Company and Group but is not expected to have any material effect on the earnings per share and net tangible assets per share of the Company and Group for the financial year ending 31st December 2013.