Welcome to our dedicated page for Multi Ways Holdings news (Ticker: MWG), a resource for investors and traders seeking the latest updates and insights on Multi Ways Holdings stock.
Multi Ways Holdings Limited (symbol: MWG) is a prominent supplier of a wide range of heavy construction equipment for sale and rental, based in Singapore. The company caters to customers in Singapore and the surrounding region, including Australia, UAE, Maldives, Indonesia, and the Philippines. Established over two decades ago, Multi Ways Holdings Limited has built a reputation as a reliable and comprehensive provider of both new and used heavy construction equipment.
Multi Ways Holdings offers an extensive inventory of equipment, which includes:
- Earth-moving equipment: Bulldozers, off-terrain dump trucks, excavators, and wheel loaders.
- Material-handling equipment: Crawler cranes, rough terrain cranes, scissor lifts, forklifts, boom-lifts, and telescopic handlers.
- Road-building equipment: Motor graders, vibrating compactors, asphalt finishers, skid loaders, backhoe loaders, hand rollers, and mini excavators.
- Generators and compressors: Air compressors, generators, lighting towers, and welding machines.
In addition to providing a broad spectrum of heavy machinery, Multi Ways Holdings also offers complementary services such as equipment refurbishment and cleaning. This makes the company a one-stop shop for customers seeking reliable construction equipment solutions.
Recently, Multi Ways Holdings Limited announced an expansion of their operations into Indonesia, further cementing their presence in the region. Additionally, the company signed a significant procurement contract, underscoring their growing influence and commitment to delivering quality equipment and services.
To stay updated on the latest developments, financial performance, and company news, visit www.multiwaysholdings.com.
Multi Ways Holdings (NYSE American: MWG) has announced the sale of 23 SANY cranes during the year ending December 31, 2024, generating revenue of SGD 8.9 million (US$6.6 million). The transaction strengthens the company's partnership with SANY, the Chinese engineering giant and world's third-largest machinery manufacturer.
The deal represents a significant portion of Multi Ways' equipment transactions for 2024 and aligns with the company's strategy to maintain a modern, high-performance fleet. As a leading supplier of heavy construction equipment for sales and rental in Singapore and the surrounding region, Multi Ways aims to meet the strong demand for premium construction equipment through its partnership with SANY.
Multi Ways Holdings (NYSE: MWG) reported its first half 2024 unaudited financial results, showing a marginal 1.95% decrease in net revenue to $14.09 million compared to H1 2023. Despite revenue challenges, the company's gross profit margin improved to 33.09% from 29.85%. The company achieved a net income of $0.08 million, compared to a net loss of $4.75 million in H1 2023.
Rental revenue increased significantly, representing 25.0% of total revenue in H1 2024 versus 14.7% in H1 2023. The company faced challenges including container supply disruption due to Middle East conflicts and increased competition. Cash and equivalents stood at $3.66 million as of June 30, 2024, down from $7.08 million year-over-year.
Multi Ways Holdings (NYSE American: MWG) has secured a significant leasing agreement worth $17.6 million with Singapore's Ministry of Defence. This strategic deal involves leasing advanced heavy construction equipment tailored to the Ministry's needs, emphasizing the cutting-edge technology and reliability of Multi Ways' fleet. The agreement not only enhances the company's financial outlook but also validates its strategic focus on delivering top-notch equipment solutions. This milestone is expected to open new opportunities with government entities and drive further growth, reflecting Multi Ways' commitment to innovation and excellence.
Multi Ways Holdings (MWG) announced its fiscal year 2023 results, highlighting several key financial metrics. Despite a 6.1% revenue decline to $36 million, net income improved by 80% to $1.8 million. Cost management and fleet optimization contributed to this improvement. Gross profit decreased by $1 million, resulting in a gross profit margin reduction from 25.4% to 24%. Administrative expenses rose by 61%, attributed mainly to a significant increase in staff costs. Cash and cash equivalents surged from $1 million to $7.1 million, driven by proceeds from property and equipment disposals. The company emphasized its commitment to fleet renewal and expansion to meet evolving customer demands.
Multi Ways Holdings (MWG), a leading supplier of heavy construction equipment, has announced the acquisition of 16 new crawler cranes from SANY International Development The procurement contract aligns with the company's fleet expansion and renewal strategy, focusing on customer needs and market demands. With the construction sector showing positive growth, this strategic investment positions Multi Ways to capitalize on market opportunities and serve its clients better.
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