Multi Ways Holdings Announces $6.4 Million Purchase of 62 Sinotruk Vehicles and Enters into Dealership Agreement with Cycle & Carriage
Fleet Expansion Addresses Growing Demand in Construction and Logistics Sectors; Dealership Appointment Creates New Sales Channel
SINGAPORE, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Multi Ways Holdings Limited (“Multi Ways,” the “Company” or the “Issuer”) (NYSE American: MWG), a leading supplier of a wide range of heavy construction equipment for sales and rental in Singapore and the surrounding region, today announced that it has placed an order for 62 Sinotruk vehicles valued at approximately S$8.24 million (US$6.4 million) and entered into a Sinotruk dealership agreement with Cycle & Carriage Ventures Pte Ltd ("Cycle & Carriage"), a subsidiary of Jardine Cycle & Carriage Limited.
The order comprises 40 Sitrak G7 8x4 cement mixers and 22 Sitrak G7 8x4 tipper trucks, each equipped with HOWO automatic transmission systems. Delivery is expected within approximately three months of order confirmation, with vehicles carrying a one-year warranty on engine, gearbox, and axle components. The acquisition expands Multi Ways' fleet capacity to address demand for heavy-duty commercial vehicles in the construction and logistics sectors.
Concurrent with the equipment order, the Company has entered into a one-year Sinotruk Dealership Agreement with Cycle & Carriage. Under the agreement, Multi Ways has been appointed as a non-exclusive dealer authorized to sell and retail Sinotruk products in Singapore, including prime movers and rigid chassis configurations.
Mr. James Lim, Chairman and CEO of Multi Ways, commented, "This order represents a meaningful investment in our fleet and our ability to serve customers in Singapore's construction and transportation industries. The addition of 62 new units strengthens our commercial vehicle portfolio, while the dealership arrangement with Cycle & Carriage opens a complementary sales channel, diversifying our revenue base. Together, these initiatives position us to capture opportunities across both equipment rental and direct vehicle sales."
About Multi Ways Holdings Limited
Multi Ways Holdings supplies a wide range of heavy construction equipment for sale and rental in Singapore and the surrounding region. With over two decades of experience in the sales and rental of heavy construction equipment, the Company is a widely established, reliable supplier of new and used heavy construction equipment to customers from Singapore, Australia, the UAE, the Maldives, Indonesia, and the Philippines. With our extensive inventory of heavy construction equipment and complementary refurbishment and cleaning services, Multi Ways is well-positioned to serve customers as a one-stop shop. For more information, visit www.multiwaysholdings.com.
Safe Harbor Statement
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Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
Tan Cheon Kem
Financial Controller
Multi Ways Holdings Limited
Tel: +65 6287 5252 (ext 202)
Email: cktan@multiways.com.sg
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