Pteris Global bags 71m yuan contract from Eastern Air Logistics

SINGAPORE-LISTED Pteris Global's subsidiary, CIMC-Tianda Airport Support, has clinched a 71 million yuan (S$15.3 million) contract from Eastern Air Logistics for the supply and installation of cargo handling system equipment for Shanghai Pudong International Airport's west cargo area. The project is expected to be completed by end-2016.

Separately, the group's other subsidiary, Pteris Global (Suzhou), has entered into a strategic framework agreement with express courier service provider SF Express for the supply of sort systems to the latter.

With over 12,000 service centres covering 31 provinces - in more than 300 large and medium-sized cities and over 1,900 county-level cities or districts - in China, SF Express is a dominant player in the express courier handling market in the country, Pteris Global said in a statement.

Both the contract and the agreement are expected to contribute positively to the earnings of the Pteris Group in the financial year ending Dec 31, 2015.

As at 10.56am on Tuesday, Pteris Global's counter stood at S$0.665.