Primech A&P Secures New Contracts and Extensions Worth Over $2.6 Million for Q1 2025
Primech A&P (NASDAQ: PMEC) has secured new contracts and extensions worth over $2.59 million for Q1 2025. The company announced six significant agreements, including a $774,470 2-year contract for cleaning services at an international hotel in Singapore's Orchard Road, a $676,150 2-year contract for a premium residential condominium, and a $563,620 6-month extension for a themed food destination. Additional contracts include cleaning services for residential developments and another international hotel, ranging from 4 months to 1 year, with values between $148,230 and $257,540.
Primech A&P (NASDAQ: PMEC) ha ottenuto nuovi contratti e proroghe per un valore complessivo superiore a 2,59 milioni di dollari per il primo trimestre del 2025. L'azienda ha annunciato sei accordi importanti, tra cui un contratto biennale da 774.470 dollari per servizi di pulizia presso un hotel internazionale in Orchard Road, Singapore, un contratto biennale da 676.150 dollari per un condominio residenziale di lusso e una proroga semestrale da 563.620 dollari per una destinazione gastronomica a tema. Altri contratti comprendono servizi di pulizia per complessi residenziali e un altro hotel internazionale, con durate da 4 mesi a 1 anno e valori compresi tra 148.230 e 257.540 dollari.
Primech A&P (NASDAQ: PMEC) ha asegurado nuevos contratos y extensiones por un valor superior a 2,59 millones de dólares para el primer trimestre de 2025. La compañía anunció seis acuerdos importantes, incluyendo un contrato de 2 años por 774.470 dólares para servicios de limpieza en un hotel internacional en Orchard Road, Singapur, un contrato de 2 años por 676.150 dólares para un condominio residencial de lujo y una extensión de 6 meses por 563.620 dólares para un destino gastronómico temático. Otros contratos incluyen servicios de limpieza para desarrollos residenciales y otro hotel internacional, con duraciones de 4 meses a 1 año y valores entre 148.230 y 257.540 dólares.
Primech A&P (NASDAQ: PMEC)는 2025년 1분기 동안 총 259만 달러 이상의 신규 계약 및 연장 계약을 확보했습니다. 회사는 싱가포르 오차드 로드에 위치한 국제 호텔에서의 2년간 청소 서비스 계약 774,470달러, 고급 주거용 콘도미니엄에 대한 2년 계약 676,150달러, 테마 음식 명소에 대한 6개월 연장 계약 563,620달러 등 6건의 주요 계약을 발표했습니다. 추가 계약으로는 4개월에서 1년까지 기간의 주거 단지 및 또 다른 국제 호텔 청소 서비스 계약이 있으며, 계약 금액은 148,230달러에서 257,540달러 사이입니다.
Primech A&P (NASDAQ : PMEC) a obtenu de nouveaux contrats et des extensions d'une valeur totale de plus de 2,59 millions de dollars pour le premier trimestre 2025. La société a annoncé six accords importants, dont un contrat de 2 ans de 774 470 dollars pour des services de nettoyage dans un hôtel international situé Orchard Road à Singapour, un contrat de 2 ans de 676 150 dollars pour une résidence haut de gamme, ainsi qu'une extension de 6 mois de 563 620 dollars pour une destination culinaire à thème. D'autres contrats concernent des services de nettoyage pour des résidences et un autre hôtel international, avec des durées allant de 4 mois à 1 an et des montants compris entre 148 230 et 257 540 dollars.
Primech A&P (NASDAQ: PMEC) hat für das erste Quartal 2025 neue Verträge und Verlängerungen im Wert von über 2,59 Millionen US-Dollar gesichert. Das Unternehmen gab sechs bedeutende Vereinbarungen bekannt, darunter einen 2-Jahres-Vertrag über 774.470 US-Dollar für Reinigungsdienstleistungen in einem internationalen Hotel an der Orchard Road in Singapur, einen 2-Jahres-Vertrag über 676.150 US-Dollar für ein hochwertiges Wohnhochhaus sowie eine 6-monatige Verlängerung im Wert von 563.620 US-Dollar für ein thematisches Gastronomieziel. Weitere Verträge umfassen Reinigungsdienste für Wohnanlagen und ein weiteres internationales Hotel mit Laufzeiten von 4 Monaten bis zu 1 Jahr und Werten zwischen 148.230 und 257.540 US-Dollar.
- Secured multiple new contracts and extensions worth $2.59 million for Q1 2025
- Expanded presence in premium residential and hospitality markets
- Diversified contract portfolio with varying durations (4 months to 2 years)
- Strong client retention demonstrated through contract extensions
- Several contracts are relatively short-term (4-6 months)
- Individual contract values are relatively modest ($148K-$774K)
Insights
Primech secures $2.6M in new contracts, strengthening revenue visibility for 2025 with focus on premium hospitality and residential segments.
Primech's announcement of $2.59 million in new contracts and extensions represents a strategic expansion of their service portfolio with significant revenue implications. The company has secured six contracts spanning January 2025 through March 2027, with contract durations ranging from 4 months to 2 years. The two largest contracts—a $774,470 hospitality deal and a $676,150 residential cleaning contract—together account for 56% of the total value announced.
What's particularly notable is Primech's deliberate focus on premium market segments. The contracts include services for international hotel chains in Singapore's prime Orchard Road district and Central Business District, along with upscale residential condominiums. This suggests a strategic pivot toward higher-margin clients that could potentially improve profitability metrics.
The timing of these contracts creates a solid revenue foundation for upcoming quarters. The contracts are structured to provide immediate revenue recognition starting January 2025, with 5 of 6 contracts beginning in Q1 2025. This improves revenue visibility for fiscal year 2025 and provides operational stability. The longest contracts extend into 2027, building a modest but meaningful backlog that reduces near-term revenue uncertainty.
Primech appears to be diversifying within its core competency of facility services, balancing short-term extensions (4-6 months) with longer commitments (1-2 years). This portfolio approach helps mitigate client concentration risk while maintaining service continuity. The COO's emphasis on technology integration suggests potential operational efficiency improvements that could enhance margins on these contracts beyond their face value.
SINGAPORE, May 28, 2025 (GLOBE NEWSWIRE) -- Primech A & P, a subsidiary of Primech Holdings Limited (the “Company”) (Nasdaq: PMEC), an established technology-driven facility services provider in the public and private sectors operating mainly in Singapore, today announced several newly secured contracts and extensions for the first quarter of 2025, with a total value exceeding
The latest contract wins and extensions include:
- Secured a 2-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 2-year contract (April 2025 to March 2027) valued at
$676,150 for comprehensive cleaning services at a premium residential condominium development.
- Secured a 6-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.
- Secured a 1-year contract (May 2025 to April 2026) valued at
$257,540 for cleaning services at an upscale residential condominium development in Singapore.
- Secured a 4-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.
- Secured a 1-year contract (January 2025 to January 2026) valued at
$148,230 for cleaning services at a mid-sized residential condominium, expanding Primech's residential service portfolio.
Mr. Khazid Omar, Chief Operating Officer of Primech A & P, commented, "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. As we continue integrating advanced technologies into our operations, we remain committed to delivering exceptional facility services tailored to each client's unique requirements. These contracts provide a strong foundation for our growth trajectory in 2025 and beyond."
About Primech Holdings Limited
Headquartered in Singapore, Primech Holdings Limited is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore. Primech Holdings offers an extensive range of services tailored to meet the complex demands of its diverse clientele. Services include advanced general facility maintenance services, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Known for its commitment to sustainability and cutting-edge technology, Primech Holdings integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech Holdings as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond. For more information, visit www.primechholdings.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth, and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "likely to" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.
Company Contact:
Email: ir@primech.com.sg
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
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