Addvalue secures US$5 million in new orders across space, radio units
[SINGAPORE] Addvalue Technologies on Friday (Sep 4) announced that it has secured new orders of US$5 million under its space connectivity and advanced digital radio (ADR)-related businesses, which are expected to raise its FY2027 growth.
Together with the new orders, the group’s order book now stands at about US$20.2 million.
The company added that it expects these orders to be “substantially fulfilled” in the next 12 months and have a “material positive impact” on the next financial year ending Mar 31.
The new orders for the space connectivity-related business, valued at about US$2.8 million, were secured from one existing customer from the US and two from the Asia-Pacific.
They ordered multiple inter-satellite data relay system terminals, which will support upcoming Earth observation and in-orbit service missions.
The new orders for the ADR-related business totalled US$2.2 million for strategic design services and the supply of proprietary, highly compact software defined radio modules to customers in the defence technology sector.
“This achievement further reinforces our ADR-related business as a key contributor to the company’s growth,” said Addvalue CEO Tan Khai Pang.
The group said it was currently unable to disclose further details about the new orders and the customers involved due to non-disclosure obligations.
Shares of Addvalue Tech rose 0.5 per cent to close S$0.001 higher at S$0.193 on Thursday.
