- On 17 Aug, CSE Global announced it has secured 3 major contracts worth S$47.5m, two for electrification solutions in the US.
- We are bullish as the US is undergoing an infrastructure upgrade boom for its power grid for EVs. We expect contribution from US infrastructure projects to surge in the next 2-3 years. Australia is also stepping up electrification for EVs and has been ramping up the upgrading of its grid.
- - Read this at SGinvestors.io -
- CSE Global (SGX:544) remains our Top Pick in the SMIDs space. Maintain BUY with a S$0.65 target price based on 15.5x FY24E P/E.
Electrification – huge growth potential
- See CSE Global's announcements dated 17 Aug 2023. Two of the new contracts are to design, manufacture and integrate power distribution centres and electrical systems and equipment in the US from 2023-25. Another involves communication and security systems for the Singapore government.
- - Read this at SGinvestors.io -
- We expect the US contribution for infrastructure to grow significantly in the next 2-3 years by 100-200%.
CEO bought shares – vote of confidence
- Read more at SGinvestors.io.
