Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Singapore
  4. Singapore Stock Exchange
  5. Acromec Limited
  6. News
  7. Summary
    43F   SG1CH1000006

ACROMEC LIMITED

(43F)
SummaryChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

General Announcement::ACROMEC's Associate "Life Science Incubator" launches co-working laboratory spaces

09/22/2021 | 06:52am EST

MEDIA RELEASE

For Immediate Release

ACROMEC's Associate "Life Science Incubator"

launches co-working laboratory spaces

  • Launch event was graced by Guest of Honour Mr. Alvin Tan, Minister of State for the Ministry of Culture, Community and Youth, and the Ministry of Trade & Industry
  • Serving early-stage bio and pharma start-ups, companies and entrepreneurs in the MedTech, Biotech, Biopharma, FoodTech sectors, the 600 square metre Life Science Incubator will provide flexible co-working laboratory spaces for research and development

SINGAPORE, 22 September 2021 - Catalist-listed ACROMEC Limited ("ACROMEC", or the

"Company" and together with its subsidiaries, the "Group"), today announced that its wholly- owned subsidiary ACROMEC Engineers Pte. Ltd.'s ("ACROMEC Engineers") 30% owned associated company, Life Science Incubator Pte. Ltd. ("JVCo"), has launched the Life Science Incubator, its first co-working laboratory space, located at German Centre, Singapore.

Page 1 of 3

The launch event was graced by Guest of Honour Mr. Alvin Tan, Minister of State for the Ministry of Culture, Community and Youth, and the Ministry of Trade & Industry, and other leaders from the Economic Development Board, Enterprise Singapore, SGInnovate, A*STAR, NTUitive, NUS accelerator. Key leaders from the Life Science Incubator's current network of about 20 industry partners, including Merck, also attended the event.

Serving early-stage bio and pharma start-ups, companies and entrepreneurs in the MedTech, Biotech, Biopharma, FoodTech sectors, the 600 square metre Life Science Incubator will provide flexible co-working laboratory spaces for research and development. With access to state-of-the-art communal technologies and facilities as well as collaborative and event space provided, start-ups are able to fully focus on investing in innovation and talent in science, without having to invest hefty infrastructure capital.

ACROMEC Engineers undertook the design, construction, and fitting-out works of the coworking laboratory facilities at the Life Science Incubator, which includes 8 suites, 51 lab benches, and 1 operating theatre.

Said Mr. Lim Say Chin, Executive Chairman and Managing Director of ACROMEC, "The successful completion and launch of the Life Science Incubator attests to ACROMEC's established track record and success as a specialist engineering provider for controlled environments. We are excited to be a part of this vibrant ecosystem and will continue to explore opportunities to serve companies and start-upsin the life science, biotech, healthcare, and research sectors."

Said Niamh Madden, General Manager of the Life Science Incubator, "Today marks the start of our exciting journey at the Life Science Incubator. We look forward to supporting science and technology start-upsand being an integral launchpad for their endeavours. With our strong network of partner companies, we are confident that the incubator will become a vibrant centre of entrepreneurship, technology and science."

Previously in July, the Group announced that its wholly-owned subsidiary, ACROMEC Engineers had entered into a joint-venture agreement with strategic partner Tako Ventures to build, own, and operate co-working laboratory facilities, implemented through the JVCo. In August, the Group announced that it had formalised the agreement, with the completion of the subscription of the acquisition shares by ACROMEC Engineers of the JVCo.

Page 2 of 3

Following this completion, the JVCo is owned 30% by the Group through ACROMEC Engineers. Tako Ventures, the Group's strategic joint venture partner which holds the remaining 70% stake, leads the management of the JVCo and the Life Science Incubator.

- End -

About Acromec Limited (SGX Stock Code: 1CH1)

ACROMEC is an established specialist engineering services provider with more than 20 years of experience in the field of controlled environments. The Group has over the years acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.

ACROMEC's business is divided into two main business segments: (i) Engineering, procurement and construction services, specialising in architectural, and mechanical, electrical and process works within controlled environments; and (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure.

The Group mainly serves the healthcare, biomedical, pharmaceutical, research and academia, and electronics sectors. ACROMEC counts amongst its customers, hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies. For more information, please visit www.acromec.com.

Media and Analysts Contact:

Acromec Limited

Waterbrooks Consultants Pte Ltd

Mr Jerry Tan

Mr Wayne Koo / Ms Raihana

Chief Financial Officer

Tel: +65 6958 8002 / +65 9338 8166

Tel: +65 6415 0574

Email: wayne.koo@waterbrooks.com.sg

Email: jerry.tan@acromec.com

Email: raihana@waterbrooks.com.sg

This media release has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Joseph Au, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.

Page 3 of 3

Disclaimer

ACROMEC Ltd. published this content on 22 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2021 10:51:03 UTC.


ę Publicnow 2021
All news about ACROMEC LIMITED
11/29Acromec Swings to Profit in Fiscal H2 on Stronger Order Book
MT
11/26Acromec Limited Reports Earnings Results for the Full Year Ended September 30, 2021
CI
11/14ACROMEC announces share swap with biomass-to-energy JV partner, Nutara Investment for j..
AQ
11/12Share Swap Arrangement In Relation To Joint Venture For Ntp
PU
09/23ACROMEC : associated Life Science Incubator launches Co-working Labspace
AQ
09/23Singapore Shares Soar on Thursday; Metech Climbs 1% on Acquisition of Chinese Wastewate..
MT
09/22ACROMEC : Associate Launches Co-Working Lab in Singapore; Shares Rally 19%
MT
09/22GENERAL ANNOUNCEMENT : :ACROMEC's Associate "Life Science Incubator" launches co-working l..
PU
09/22ACROMEC : Associate &Quot;Life Science Incubator&Quot; Launches Co-Working Laboratory Spac..
PU
08/15ACROMEC : Formalizes Joint Venture Agreement with Tako Ventures to Launch Co-Working Lab S..
MT
More news
Financials
Sales 2021 29,1 M 21,3 M 21,3 M
Net income 2021 0,09 M 0,06 M 0,06 M
Net Debt 2021 6,24 M 4,57 M 4,57 M
P/E ratio 2021 129x
Yield 2021 -
Capitalization 10,9 M 7,99 M 8,01 M
EV / Sales 2020 0,78x
EV / Sales 2021 0,60x
Nbr of Employees 122
Free-Float 28,8%
Chart ACROMEC LIMITED
Duration : Period :
Acromec Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Managers and Directors
Say Chin Lim Executive Chairman & Managing Director
Buck Kiang Tan Chief Financial Officer
Kit Hong Yee Lead Independent Director
Beh Pur-Lin Independent Director
John Geno-Oehlers Independent Non-Executive Director
Sector and Competitors