Singapore Engineering Firm's Order Book Surges Past S$1 Billion

Milestone Threshold

Ever Glory United has pushed its order book past S$1 billion for the first time, marking a sharp acceleration for the Singapore-based mechanical and electrical engineering contractor. The company announced Monday it had secured more than S$168 million in fresh contracts, including electrical works for the Defence Science and Technology Agency.

The latest wins cap seven months of aggressive order intake. Since January 2026, Ever Glory United has booked approximately S$400 million in new projects, according to a filing with the Singapore Exchange. The expanded pipeline provides revenue visibility extending through 2028 and beyond, with contributions expected to flow progressively over the next two to three years.

The company transferred from the Catalist board to SGX's mainboard in December 2025, a move that typically signals greater scale and liquidity expectations. The recent contract momentum validates that upgrade.

Project Mix

The S$168 million tranche includes a subcontract with DSTA for electrical installation work, alongside mechanical and electrical packages for mixed-use commercial developments across Singapore. Specific project locations and clients for the commercial work were not disclosed.

In May, Ever Glory United had already announced around S$230 million in contracts, including assignments for the Land Transport Authority and Resorts World Sentosa. That earlier batch covered infrastructure and hospitality sector work, illustrating the breadth of the company's client base.

Xu Ruibing, chief executive officer and executive director, noted the order book has grown from S$732.8 million at the start of 2026 to over S$1 billion in just seven months. He pointed to a healthy pipeline of opportunities ahead, underpinned by sustained construction activity in the Republic.

Construction Momentum

Singapore's construction sector expanded 11.8 percent year-on-year in the first quarter of 2026, according to data from SGX. Advance estimates for the second quarter indicate further growth of 6.2 percent, suggesting the momentum remains intact despite a slower pace.

Demand forecasts for 2026 point to total construction contracts reaching up to S$53 billion, driven by public infrastructure upgrades, transit extensions, and private commercial projects. The government's commitment to expanding housing supply and renewing aging industrial estates continues to feed the project pipeline.

For contractors like Ever Glory United, the challenge shifts from winning work to managing execution risk across multiple sites. The company's mechanical and electrical specialization positions it as a subcontractor on large-scale developments, where coordination with main contractors and timely material procurement become critical.

Market Position

Ever Glory United's shares closed Monday at S$0.845, up S$0.005 or 0.6 percent, before the contract announcement. The stock has traded in a relatively narrow range since the mainboard transfer, reflecting steady but unspectacular investor sentiment.

The S$1 billion order book threshold places the company among mid-tier engineering service providers in Singapore, a competitive segment that includes both listed peers and privately held specialists. Differentiation often hinges on track record with government agencies, safety performance, and capacity to scale labor and equipment during peak construction cycles.

With two-thirds of 2026 remaining, Ever Glory United's ability to convert pipeline opportunities into signed contracts will determine whether the current growth trajectory continues into 2027. The company has not disclosed its full-year order intake target, but the S$400 million secured so far represents a significant acceleration compared to historical norms.

Execution quality on the DSTA and LTA projects will also shape the company's reputation for handling sensitive government work, a credential that can unlock further defense and infrastructure assignments in a market where client concentration among public agencies is high.