This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Hollysys Automation Technologies Announces A SGD $6.80 Million Contract Win By Its Singaporean Subsidiary









BEIJING, Nov. 19, 2012 /PRNewswire-FirstCall/ -- Hollysys Automation Technologies, Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), a leading provider of automation and control technologies and applications in China, announced today that its wholly owned subsidiary Concord Corporation Pte. Ltd. ("Concord") signed a contract with SMRT Trains Ltd in Singapore ("SMRT") to provide design, electrification and installation service for North-South and East-West lines ("NSEWL") stations renovation. The contract is valued at approximately SGD $6.80 million, or USD $5.59 million, the project will be completed within eight months.

This contract is for the renovation of NSEWL stations, and there will be another portion regarding the depots reconstruction valued approximately SGD $4.20 million, or USD $ 3.45 million, which Concord is tightly following up. Besides, the stations and depots renovation is for the preparation of the whole lines resignaling project, this contract win puts Concord a pole position for winning this sizable resignaling project as well.

As per the terms of this contract, Concord Corporation is to design, procure, install the Addition and Alteration (A&A) Works, and to coordinate and align with SMRT to install new signaling equipment in existing rooms like Signal Equipment Rooms, Plant Rooms etc. at the NSEWL stations. These existing rooms have to be renovated and fitted out with utilities such as power, lightings, air-conditioning to meet the standards for an equipment room as per SMRT's Technical Specifications.

Dr. Changli Wang, Chairman and CEO of Hollysys, commented: "We are pleased to announce this contract win and glad to see that Concord is continuously winning new business. We believe the combination of Concord's customer base and industry know-how with Hollysys' proprietary technology and products will enable us to make more achievements and pave our way to a broader market space in Southeast Asia and the Middle East in both industrial and rail transportation sectors, and continuously create value for our shareholders."



1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,001.22 -38.27 -0.22%
S&P 500 1,988.40 -3.97 -0.20%
NASDAQ 4,538.5510 +6.4470 0.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs