$6.4 Million Purchase of Construction Vehicles Plus New Dealership Agreement with Cycle & Carriage for Heavy Equipment Provider to Singapore Region
Michimich.com/10319979

TUAS, Singapore - Michimich -- Long Established Industry Leader in Sales and Rental of a Wide Range of Heavy Construction Equipment in Singapore and Surrounding Region.

Wide Customer Base from Singapore, Australia, the UAE, the Maldives, Indonesia and the Philippines.

One-Stop Shop for Complementary Equipment Refurbishment & Cleaning.

$6.4 Million Purchase of 62 Sinotruk Vehicles and Entry into Dealership Agreement with Cycle & Carriage.

88% Revenue Growth in First Half 2025.

Significant Fleet Enlargement Initiative via New Orders for 21 SANY Cranes for Approximately S$7.0 million (US$5.4 million).

Majority of New SANY Units Already Confirmed with Customers in Singapore.

Strong Company Financing with $1.485 Million Registered Direct Offering.

Multi Ways Holdings Limited (N Y S E: MWG) 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, MWG 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 extensive inventory of heavy construction equipment and complementary refurbishment and cleaning services, MWG is well-positioned to serve customers as a one-stop shop.

MWG history began in 1988 when Mr. James Lim carried on the business of selling generators and air compressors under a sole proprietorship under the business name "Multi-Ways Equipment". Multi Ways SG was incorporated in 2002 to take over the business carried on by Mr. James Lim under the sole proprietorship. Over the last two decades, MWG has become a supplier of a wide range of heavy construction equipment in Singapore and the region. In 1996, MWG expanded its fleet of heavy construction equipment to include road-building equipment and mining equipment. In 2012, MWG expanded into the crane trading business.

The MWG mission is to be an industry leader in the sales and rental of a wide range of heavy construction equipment in Singapore and the region, and as a one-stop shop offering complementary equipment refurbishment and cleaning services to its customers.

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MWG has a good share structure for investors with only 33,330,000 shares outstanding.

$6.4 Million Purchase of 62 Sinotruk Vehicles and Entry into Dealership Agreement with Cycle & Carriage

On January 12^th MWG announced that it has placed an order for 62 Sinotruk vehicles valued at approximately S$8.24 million (US$6.4 million) and entered into a Sinotruk dealership agreement with Cycle & Carriage Ventures Pte Ltd, a subsidiary of Jardine Cycle & Carriage Limited.

The MWG 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 MWG fleet capacity to address demand for heavy-duty commercial vehicles in the construction and logistics sectors.

Concurrent with the equipment order, MWG has entered into a one-year Sinotruk Dealership Agreement with Cycle & Carriage. Under the agreement, MWG has been appointed as a non-exclusive dealer authorized to sell and retail Sinotruk products in Singapore, including prime movers and rigid chassis configurations.

88% Revenue Growth in First Half 2025

On December 23^rd MWG announced first half 2025 unaudited financial results and provided a corporate updates.

Financial Highlights
For the six months ended June 30, 2025, MWG net revenue increased significantly by 87.65% to $26.44 million, compared to $14.09 million for the six months ended June 30, 2024. The increase in net revenue was largely due to several factors, including:

Strong equipment sales boosted by few local ongoing major infrastructure projects

Sales orders locked-in last year which translated into revenue in 1st half 2025.

Aggressive & proactive marketing strategy to entice potential customers

Gross profit was approximately $6.63 million, with 25.08% profit margin, for the first six months of 2025, compared with gross profit of $4.66 million, with 33.07% profit margin for the first six months of 2024.

Net income was approximately $0.90 million for the first six months of 2025, compared with a net income of $0.08 million for the first six months of 2024. Net Income increased substantially by 1,025% to $0.82 million.

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$5.4 Million Purchase of 21 SANY Cranes

On October 27^th MWG announced it has placed additional new orders for 21 Sany cranes for approximately S$7.0 million (US$5.4 million). The majority of these orders are already confirmed with customers in Singapore.

This deal builds on the MWG existing partnership with SANY, the Chinese engineering giant and the world's third-largest heavy equipment manufacturer. This strategic acquisition will significantly enhance the MWG fleet, enabling the Company to meet the growing demand for heavy construction equipment in the region.

Mr. James Lim, Chairman and CEO of MWG, commented on the acquisition, "We are thrilled to solidify our partnership with SANY through this significant order. The addition of these 21 new cranes to our fleet is a direct response to the robust demand we are seeing in the Singaporean construction market and the broader region. With a majority of these new units already pre-ordered, it underscores the confidence our customers have in our ability to provide top-tier equipment for their critical infrastructure projects. This investment not only strengthens our market position but also ensures we continue to deliver the exceptional service and reliability our clients have come to expect."

The procurement of these SANY cranes underscores the MWG ongoing commitment to operational excellence, customer satisfaction, and strategic growth. MWG remains focused on providing innovative solutions and top-quality equipment to support the region's construction and infrastructure development.

For more information on $MWG, visit: www.multiwaysholdings.com and   https://share.google/DVK1V7McPOsNmZ8HC

Media Contact:
Company Name: Multi Ways Holdings Limited (N Y S E American: MWG)
Contact:  Matthew Abenante, IRC, Strategic Investor Relations, LLC
Email:  matthew@strategic-ir.com
Phone: 347-947-2093
Country: Singapore
Website:  www.multiwaysholdings.com

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