Multi Ways Holdings Announces $6.4 Million Purchase of 62 Sinotruk Vehicles and Enters into Dealership Agreement with Cycle & Carriage
Rhea-AI Summary
Multi Ways Holdings (NYSE American: MWG) ordered 62 Sinotruk vehicles for approximately S$8.24 million (US$6.4 million) and signed a one-year, non-exclusive Sinotruk dealership agreement with Cycle & Carriage on January 12, 2026. The fleet order includes 40 Sitrak G7 8x4 cement mixers and 22 Sitrak G7 8x4 tipper trucks, all with HOWO automatic transmissions. Delivery is expected within approximately three months of order confirmation, and vehicles carry a one-year warranty on engine, gearbox, and axle components. The acquisition increases fleet capacity to serve construction and logistics customers and creates a complementary sales channel via the Cycle & Carriage appointment.
Positive
- Placed a S$8.24M (US$6.4M) order for 62 Sinotruk vehicles
- Order mix: 40 Sitrak G7 cement mixers and 22 Sitrak G7 tipper trucks
- Expected delivery within ~3 months, enabling near-term fleet expansion
- Entered a one-year Sinotruk dealership with Cycle & Carriage to enable direct retail sales
Negative
- Dealership is non-exclusive and limited to a one-year term
- Purchase represents a S$8.24M capital commitment that affects near-term cash/financing needs
News Market Reaction
On the day this news was published, MWG gained 0.21%, reflecting a mild positive market reaction. Argus tracked a peak move of +13.8% during that session. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $31K to the company's valuation, bringing the market cap to $15M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Peers in Industrials/Rental & Leasing show mixed moves (e.g., FPAY +366.67%, AIHS -6.19%, ALTG -1.86%), with no consistent sector direction and no peers in the momentum scanner.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 23 | Earnings update | Positive | +0.0% | Strong H1 2025 revenue and profit growth with improved operating cash flow. |
| Oct 27 | Fleet expansion | Positive | -1.5% | US$5.4M order for 21 SANY cranes to meet regional demand. |
| Sep 26 | Equity offering tranche | Negative | -3.2% | Closing of second tranche of $1.485M registered direct offering with warrants. |
| Sep 15 | Equity offering close | Negative | -7.1% | Closing of $1.485M registered direct offering of 9M shares and warrants. |
| Sep 12 | Equity offering pricing | Negative | -7.1% | Pricing of $1.485M registered direct offering at $0.165 with warrants. |
Recent history shows negative reactions around equity offerings, while growth-oriented equipment purchases sometimes saw muted or negative price moves despite positive business implications.
Over the last few months, Multi Ways reported strong H1 2025 growth with net revenue of $26.44M (up 87.65%) and positive net income, but also executed a $1.485M registered direct offering with warrants across multiple tranches in September 2025. A US$5.4M SANY crane purchase in October 2025 expanded the fleet. Today’s Sinotruk order and dealership arrangement follow this pattern of using capital to grow equipment capacity and sales channels.
Market Pulse Summary
This announcement adds 62 Sinotruk vehicles worth about US$6.4M and a one-year dealership agreement with Cycle & Carriage, expanding Multi Ways’ fleet and creating a new sales channel. In context of H1 2025 net revenue of $26.44M and earlier fleet growth, it underscores a strategy of capacity expansion in construction and logistics. Investors may watch execution on rentals versus direct sales and future capital needs.
Key Terms
rigid chassis technical
AI-generated analysis. Not financial advice.
Fleet Expansion Addresses Growing Demand in Construction and Logistics Sectors; Dealership Appointment Creates New Sales Channel
SINGAPORE, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Multi Ways Holdings Limited (“Multi Ways,” the “Company” or the “Issuer”) (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 that it has placed an order for 62 Sinotruk vehicles valued at approximately S
The order comprises 40 Sitrak G7 8x4 cement mixers and 22 Sitrak G7 8x4 tipper trucks, each equipped with HOWO automatic transmission systems. Delivery is expected within approximately three months of order confirmation, with vehicles carrying a one-year warranty on engine, gearbox, and axle components. The acquisition expands Multi Ways' fleet capacity to address demand for heavy-duty commercial vehicles in the construction and logistics sectors.
Concurrent with the equipment order, the Company has entered into a one-year Sinotruk Dealership Agreement with Cycle & Carriage. Under the agreement, Multi Ways has been appointed as a non-exclusive dealer authorized to sell and retail Sinotruk products in Singapore, including prime movers and rigid chassis configurations.
Mr. James Lim, Chairman and CEO of Multi Ways, commented, "This order represents a meaningful investment in our fleet and our ability to serve customers in Singapore's construction and transportation industries. The addition of 62 new units strengthens our commercial vehicle portfolio, while the dealership arrangement with Cycle & Carriage opens a complementary sales channel, diversifying our revenue base. Together, these initiatives position us to capture opportunities across both equipment rental and direct vehicle sales."
About Multi Ways Holdings Limited
Multi Ways Holdings supplies a wide range of heavy construction equipment for sale and rental in Singapore and the surrounding region. With over two decades of experience in the sales and rental of heavy construction equipment, the Company is a widely established, reliable supplier of new and used heavy construction equipment to customers from Singapore, Australia, the UAE, the Maldives, Indonesia, and the Philippines. With our extensive inventory of heavy construction equipment and complementary 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
Tan Cheon Kem
Financial Controller
Multi Ways Holdings Limited
Tel: +65 6287 5252 (ext 202)
Email: cktan@multiways.com.sg
FAQ
What did MWG announce on January 12, 2026 regarding fleet purchases?
When will MWG receive the 62 Sinotruk vehicles ordered on January 12, 2026?
What are the warranty terms for the Sinotruk vehicles MWG purchased (MWG)?
What does the one-year Sinotruk dealership with Cycle & Carriage mean for MWG shareholders?
How many and which Sinotruk models did MWG order (MWG)?
