Ten‑League International Holdings Limited announced that its subsidiary, Ten‑League Port Engineering Solutions Pte. Ltd., has secured a new order for 30 battery‑electric terminal purpose prime movers from PSA Corporation Limited (PSA Singapore). The prime movers are scheduled for delivery in the last quarter of 2025, adding a substantial revenue opportunity to the company’s electrification portfolio.
The order builds on Ten‑League’s successful deployment of Singapore’s first Battery Charging and Swap Station (BCSS) at PSA Pasir Panjang Terminal, which was commissioned in late 2024. The BCSS project demonstrated the company’s ability to integrate charging infrastructure with electric prime movers, a key capability that underpins the new contract and signals confidence in Ten‑League’s technology from one of the region’s largest port operators.
Financially, the 30‑unit order is expected to generate a multi‑million‑dollar revenue stream for Ten‑League, complementing the company’s first‑half 2025 results that showed a 21.6% rise in revenue to S$37.7 million and a 269% increase in net income to S$2.4 million. While the exact order value has not been disclosed, the contract represents a significant addition to the company’s electrification business and is likely to contribute materially to next‑quarter earnings as the prime movers enter service.
Ten‑League’s management has acknowledged a Nasdaq compliance issue, having received a deficiency notice for maintaining the minimum bid price of $1.00 per share. CEO Jison Lim stated that the company is actively working to address the shortfall and that the new PSA order will help strengthen the company’s financial position and support its listing status.
Strategically, the contract aligns with Ten‑League’s broader goal of expanding its electrified solutions in the Asia‑Pacific port and construction markets. The win reinforces the company’s competitive moat, showcases its end‑to‑end electrification capabilities, and positions Ten‑League to capture additional market share as global decarbonization efforts accelerate.
The order underscores the growing demand for electric prime movers in port operations and highlights Ten‑League’s role as a key enabler of PSA Singapore’s decarbonization agenda. With the new contract, Ten‑League is poised to scale its electrification solutions while navigating the challenges of Nasdaq compliance and maintaining momentum in a rapidly evolving market.
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