Multi Ways Holdings Limited (MWG) delivered five new mixer trucks to its customers on 7 April 2026, expanding its sales and rental fleet in Singapore and the surrounding region. The delivery marks a tangible growth in the company’s core construction‑equipment business and demonstrates its ability to meet rising demand for heavy‑duty vehicles.
MWG announced a strategic pivot toward electric and hybrid construction equipment, negotiating with the manufacturer C&C to add electric vehicles to its portfolio. The company plans a commercial launch of hybrid and electric machinery, positioning itself to benefit from Singapore’s Energy Efficiency Grant (EEG), which covers up to 70 % of qualifying electric equipment purchases for SMEs. On 7 April 2026 the EEG was expanded to all sectors and extended to 31 March 2028, providing a stronger tailwind for MWG’s electrification strategy.
Financially, MWG’s first‑half 2025 results showed an 88 % revenue increase to $26.44 million and a net‑income jump of over 1,000 %. In contrast, the company recorded a net loss of $2.9 million in fiscal year 2024, underscoring the volatility of its earnings cycle. The new electric‑vehicle initiative is therefore a key element of MWG’s plan to stabilize and grow profitability.
In January 2026 MWG ordered 62 Sinotruk vehicles valued at approximately US$6.4 million, further expanding its commercial‑vehicle portfolio. The company also continues to supply equipment for Singapore’s mega projects, including Changi Airport Terminal 5 and the Long Island reclamation initiative, giving it a strong platform to test and deploy new electric technologies.
James Lim, Chairman and Chief Executive Officer of MWG, said the delivery of the five mixer trucks demonstrates the company’s operational reliability and that it is future‑proofing its business amid rising fuel costs. He added that the partnership with C&C and the upcoming launch of hybrid and electric machinery are part of a broader strategy to reduce operating costs for clients and capture a growing market segment driven by environmental regulations and cost‑savings goals.
The combination of fleet expansion, a strategic shift to electrification, and supportive government incentives positions MWG to capture a larger share of Singapore’s construction‑equipment market while improving its long‑term profitability. Investors should view the announcement as a significant development that could reshape the company’s growth trajectory.
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