SINGAPORE, Jan. 08, 2025 (GLOBE NEWSWIRE) — Multi Ways Holdings Limited (“Multi Ways” or the “Company”) (NYSE American: MWG), a leading supplier of a wide range of heavy construction equipment for sales and rental in Singapore and the surrounding region, today announced the the sale of 23 SANY cranes in the year ending December 31, 2024, generating revenue of SGD 8.9 million (US$6.6 million). The deal builds on Multi Ways’ partnership with SANY, the Chinese engineering giant and world’s third-largest machinery manufacturer.
“This deal showcases our ability to deliver exactly what our clients need,” said Mr. James Lim, Chairman and Chief Executive Officer of Multi Ways. “We’re seeing strong demand for premium construction equipment, and our relationship with SANY helps us meet that demand head-on.”
The sale represents a significant portion of Multi Ways’ equipment transactions for 2024 and demonstrates the Company’s ongoing strategy to maintain a modern, high-performance fleet. By working closely with SANY, Multi Ways can offer its clients access to some of the most advanced construction machinery available. Multi Ways has made it a priority to actively refresh its equipment lineup to stay competitive in the rapidly evolving construction sector.
About Multi Ways Holdings Limited
Multi Ways Holdings supplies a wide range of heavy construction equipment for sales and rental in Singapore and the surrounding region. With more than two decades of experience in the sales and rental of heavy construction equipment business, the Company is widely established as a reliable supplier of new and used heavy construction equipment to customers from Singapore, Australia, UAE, Maldives, Indonesia, and the Philippines. With our wide variety of heavy construction equipment in our inventory and complementary equipment refurbishment and cleaning services, Multi Ways is well-positioned to serve customers as a one-stop shop. For more information, visit www.multiwaysholdings.com.
Safe Harbor Statement
This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: [email protected]
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