Multi Ways Holdings sold 23 SANY cranes in 2024, generating SGD 8.9 million in revenue, enhancing their equipment offerings.
Quiver AI Summary
Multi Ways Holdings Limited, a prominent supplier of heavy construction equipment in Singapore, has announced the sale of 23 SANY cranes for the year ending December 31, 2024, generating SGD 8.9 million (US$6.6 million) in revenue. This accomplishment highlights the company's strong partnership with SANY, the world's third-largest machinery manufacturer, and reflects the growing demand for premium construction equipment. Chairman and CEO Mr. James Lim emphasized the strategic importance of maintaining a modern fleet to meet client needs effectively while leveraging their collaboration with SANY. With over two decades of experience, Multi Ways is well-positioned as a reliable supplier to various regions, including Australia and the Philippines, and focuses on refreshing its inventory to adapt to the fast-changing construction industry.
Potential Positives
- Multi Ways Holdings Limited achieved significant revenue of SGD 8.9 million (US$6.6 million) from the sale of 23 SANY cranes, highlighting successful sales operations.
- The partnership with SANY reinforces Multi Ways' position as a reliable supplier and enhances its offerings by providing access to advanced construction machinery.
- The sale demonstrates Multi Ways' proactive strategy to maintain a modern and high-performance equipment fleet, which is vital in the competitive construction sector.
- The company has established itself as a key player in the market with more than two decades of experience, positioning it well to serve a diverse range of customers across multiple regions.
Potential Negatives
- Dependence on a single supplier, SANY, for a significant portion of revenue may expose Multi Ways to supply chain risks and market fluctuations associated with SANY's performance.
- The mention of "competition" and the need to "keep pace with new technology and changing market needs" may suggest vulnerabilities in Multi Ways' market position and highlight potential challenges in maintaining competitiveness.
- Forward-looking statements caution about uncertainty in future performance, potentially signaling weaker confidence in achieving growth targets or financial forecasts.
FAQ
What cranes did Multi Ways Holdings Limited sell in 2024?
Multi Ways Holdings sold 23 SANY cranes in 2024, generating revenue of SGD 8.9 million.
How does the partnership with SANY benefit Multi Ways Holdings?
The partnership with SANY allows Multi Ways to provide advanced construction machinery, meeting strong client demand.
What is the focus of Multi Ways Holdings in the construction equipment market?
Multi Ways focuses on maintaining a modern, high-performance fleet by refreshing its equipment lineup regularly.
Which regions does Multi Ways Holdings serve?
Multi Ways serves Singapore, Australia, UAE, Maldives, Indonesia, and the Philippines in heavy construction equipment.
How can I find more information about Multi Ways Holdings Limited?
You can find more information by visiting Multi Ways Holdings Limited's official website at www.multiwaysholdings.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MWG Hedge Fund Activity
We have seen 4 institutional investors add shares of $MWG stock to their portfolio, and 1 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- UBS GROUP AG removed 52,700 shares (-100.0%) from their portfolio in Q3 2024
- JANE STREET GROUP, LLC added 49,495 shares (+inf%) to their portfolio in Q3 2024
- XTX TOPCO LTD added 31,529 shares (+inf%) to their portfolio in Q3 2024
- HRT FINANCIAL LP added 23,437 shares (+inf%) to their portfolio in Q3 2024
- MORGAN STANLEY added 550 shares (+inf%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
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:
matthew@strategic-ir.com
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