Primech Flat on New Contracts
Primech Holdings Limited (NASDAQ: PMEC) announces its Primech A and P subsidiary acquired several newly secured contracts and extensions for the first quarter of 2025, with a total value exceeding $2.59 million.
The latest contract wins and extensions include: Secured a two-year contract (January 2025 to December 2026) valued at $774,470 for public area cleaning and housekeeping services at a prominent international hotel chain in Singapore's prime Orchard Road shopping district.
Secured a two-year contract (April 2025 to March 2027) valued at $676,150 for comprehensive cleaning services at a premium residential condominium development.
Secured a six-month extension (January through June 2025) valued at $563,620 for specialized cleaning services at a popular themed food destination within a major tourist attraction in Singapore.
The company also secured a one-year contract (May 2025 to April 2026) valued at $257,540 for cleaning services at an upscale residential condominium development in Singapore.
Secured a four-month extension (January through April 2025) valued at $168,150 for public area cleaning services at a prestigious international hotel in Singapore's Central Business District.
Said Chief Operating Officer Khazid Omar, "We are delighted to announce these significant new contract wins and extensions across multiple sectors. These agreements underscore our clients' confidence in our service quality and reflect our focus on expanding our presence in the premium residential and hospitality markets.”
PMEC shares docked three cents, or 2.1%, to $1.18.
