Multi Ways Holdings Delivers Five Mixer Trucks and Advances Electric Vehicle Strategy to Capture Singapore's Construction Electrification Opportunity
Multi Ways Holdings (NYSE:MWG) delivered five mixer trucks and is advancing an electrification strategy by negotiating expanded EV product ties with C&C and preparing an imminent commercial launch of hybrid and electric construction equipment.
Rhea-AI Summary
Multi Ways Holdings (NYSE:MWG) delivered five mixer trucks and is advancing an electrification strategy by negotiating expanded EV product ties with C&C and preparing an imminent commercial launch of hybrid and electric construction equipment.
The company supports Singapore Mega Projects including Changi Airport Terminal 5 and the Long Island reclamation, and cites the Energy Efficiency Grant covering up to 70% of qualifying equipment costs as a catalyst for adoption.
Positive
- Five mixer trucks delivered to clients, showing operational execution
- Deployed equipment supporting Changi Airport Terminal 5 and Long Island reclamation
- Energy Efficiency Grant up to 70% subsidy lowers client acquisition costs
Negative
- EV product negotiations with C&C are ongoing and not finalized
- Commercial launch of hybrid/electric equipment is imminent but not yet complete
Details
News Market Reaction – MWG
In the Apr 7 session, MWG gained 11.11%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
- Mixer truck delivery
- 5 mixer trucks
- Delivered to clients under active project demand
- EEG funding support
- 70% of qualifying equipment acquisition costs
- Singapore Energy Efficiency Grant for eligible SME construction businesses
Historical Context
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Secured two JTC industrial leases totaling 6,453 sqm to expand capacity.
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Announced 1-for-10 reverse split aimed at maintaining NYSE American listing.
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Ordered 62 Sinotruk vehicles and signed non-exclusive dealership with Cycle & Carriage.
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Reported H1 2025 net revenue of $26.44M, up 87.65% year-over-year.
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Announced purchase of 21 SANY cranes for S$7.0M (US$5.4M) to meet demand.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Expands EV Product Line Through C&C Partnership Negotiations; Prepares Imminent Launch of Hybrid and Electric Construction Equipment in Support of Singapore Mega Projects
SINGAPORE, April 07, 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 reported the successful delivery of five mixer trucks to clients, marking continued operational execution against active project demand. Concurrent with this delivery milestone, the Company announced a strategic initiative to diversify its portfolio into electric vehicle (EV) and hybrid construction equipment — a direct response to escalating fuel costs and a decisive move to align with Singapore's government-backed incentive program for early EV adopters in the construction sector.
Multi Ways is currently in active negotiations with C&C to expand its line of electric vehicle products, while simultaneously preparing for the imminent commercial launch of hybrid and electric construction equipment. Fuel cost volatility has become a structural pressure across the construction industry, and the Company is repositioning its product offerings to provide clients with energy-efficient alternatives that reduce the total cost of ownership and improve project economics over the long term.
Mr. James Lim, Chairman and Chief Executive Officer of Multi Ways, commented: “Delivering five mixer trucks to our clients reflects the operational reliability and product quality that define our customer relationships. Beyond this delivery, we are making decisive moves to future-proof our business. Rising fuel costs are not a temporary headwind — they are a permanent feature of the operating environment, and our clients need solutions that address that reality. Our expanded EV product negotiations with C&C, combined with the imminent launch of hybrid and electric construction equipment, position Multi Ways at the forefront of Singapore's construction energy transition. We intend to be the partner our clients turn to as that transition accelerates.”
Multi Ways is currently an active contributor to Singapore's landmark infrastructure program, commonly referred to as the nation's 'Mega Projects' initiative. The Company's construction equipment is deployed in support of Changi Airport Terminal 5 — one of the most significant aviation infrastructure developments in Southeast Asia — and the Long Island reclamation project, a transformative coastal development undertaking. In connection with these projects, Multi Ways is in active discussions with cement batching plants to integrate its latest hybrid and EV construction equipment into their operations. Securing these integrations would represent a meaningful commercial validation of the Company's electrification strategy at scale.
A significant market catalyst underpinning the Company's electrification strategy is Singapore's Energy Efficiency Grant (EEG), administered through the Singapore Government's GoBusiness platform. The EEG provides funding support of up to
The Company expects to finalize the terms of its expanded EV product arrangement with C&C and to complete near-term preparations for the commercial launch of its hybrid and electric construction equipment line.
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 more than two decades of experience in the sales and rental of heavy construction equipment, the Company is well established as a reliable supplier of new and used heavy construction equipment to customers in Singapore, Australia, the UAE, the Maldives, Indonesia, and the Philippines. With our wide inventory of heavy construction equipment 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
