It will be built at the group’s premises at 3 Jalan Pesawat.
The total estimated cost of S$4 million will be funded using the group’s internal resources and working capital. The project is not expected to have a material impact on the consolidated net tangible assets or earnings per share of the group for the current financial year ending Sept 30. “Our new smelting facility will be a major step towards our environmentally friendly strategy, where materials are used in a closed-loop system, with little or no waste ending up in landfills,” said Koh Mia Seng, executive chairman of Sen Yue.
Sen Yue said it had in 2016 obtained shareholders’ approval to diversify into the waste management business. This includes waste management solutions; the collection, transport, handling, treatment, management and disposal of commercial, hazardous, electronic waste and metal scraps; the recycling and trading of metal scraps and electronic waste; and materials recovery.About 29.
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