BH Global secures FPSO and LED Lighting contracts worth S$7.6 million
Product name：BH Global secures FPSO and
SINGAPORE, Dec 20, 2018 - (ACN Newswire) - BH Global Corporation Limited ("BH Global", or the "Group"), an established group providing comprehensive solutions in supply chain management, design and manufacturing, engineering, and surveillance and cyber security to a multitude of industries across the globe, is pleased to announce recent contract wins for the supply of cables for a FPSO (floating production storage and offloading vessel) project to a repeat customer, and the supply of LED lighting systems to an overseas customer.
The FPSO offshore cables supply contract was secured by Beng Hui Marine Electrical Pte Ltd ("BHM"), the Supply Chain Division of BH Global. The track record of BHM's unique 'Cables Management Program' contains numerous well-executed past projects. Coupled with its Just-In-time (JIT) delivery system, BHM's proven ability to assist its clients to attain substantial savings in logistic and financial costs were a major contributor in securing this key project.
The Group is also building on its strength in LED lighting systems to secure more orders. BH Global's new LED factory in Kunshan has been completed in Q4 of 2018, and will commence production in 2019. BHM's proprietary 'Save Our Planet' (SOP) LED lightings continues to see a rise in customer take up rates contributing to 25% year-on-year growth. In a recently completed project, the Yangon Port Terminal has installed the Group's SOP corrosion-resistant marinized floodlights, which achieved amazing energy savings of about 80% compared to conventional lightings. Significant savings were similarly achieved in three cable factories of a U.S customer through the use of BHM's SOP Highbay LED lights equipped with Adaptive Smart Controls.
The solutions provided by BHM reinforce BH Global's shift towards green practices and sustainability development, helping to minimise material wastage and reduce energy consumption.
The contract wins are expected to be delivered in 2019.
Commenting on the contract wins, Mr Vincent Lim, Chief Executive Officer of BH Global said, "We look forward to continuing this order-winning momentum as we rebuild our position coming out from the decline in the marine and offshore industry. It has been a trying couple of years but we continue to see encouraging results alongside the recovery in the industry that is underway. Prospects for our LED design and manufacturing business has also improved now that our new factory in Kunshan has been completed, and we hope to ramp up its production in due time."
Going forward, the Group is focused on consistent improvements to stabilise and subsequently bolster its performance in the long run.
About BH Global Corporation Limited (Bloomberg Code: BHGM.SP)
BH Global Corporation Ltd is an established group providing comprehensive solutions in supply chain management, design and manufacturing, engineering, and surveillance and cyber security to a multitude of industries across the globe. With more than half a century of experience and presence in the marine and offshore, oil and gas, industrial, petrochemical and commercial sectors, the Group has built strong synergies and expertise that strategically position it to develop turnkey solutions focused on electrification, digitisation and environmental sustainability.
Through excellent research and development and project management capabilities, BH Global has a unique platform which is proficient in producing integrated solutions to capture growth opportunities, and executing swift and impactful value-added services to its clients worldwide. For more information, please refer to the website, www.bhglobal.com.sg
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BH Global secures FPSO and