Multi Ways Holdings Expands Singapore Operational Footprint by Approximately 149,000 Square Feet to Support Hybrid and EV Construction Equipment Strategy
SINGAPORE, April 22, 2026 (GLOBE NEWSWIRE) -- Multi Ways Holdings Limited ("Multi Ways," the "Company" or the "Issuer") (NYSE: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 secured approximately 149,000 square feet of additional industrial capacity in Singapore to accelerate its strategic expansion into hybrid and electric (EV) construction equipment. The expansion comprises approximately 69,460 square feet of newly leased industrial space secured during the first quarter of 2026, together with a separate dedicated warehouse and yard facility of over 80,000 square feet under a five-year lease commencing April 15, 2026. The combined capacity positions the Company to scale its equipment fleet, support increased rental and sales activity, and rebalance operations toward higher-demand, energy-efficient equipment categories.
Details of the Expansion
During the first quarter of 2026, Multi Ways Holdings secured approximately 6,453 square meters (~69,460 square feet) of additional industrial space in Singapore, structured across two leases:
- Approximately 3,450 square meters under a three-year lease, providing long-term operational stability; and
- Approximately 3,003 square meters under a one-year lease, providing scalable short-term capacity.
In addition, the Company secured a separate facility comprising over 80,000 square feet of combined sheltered warehouse space and open yard area on the following terms:
- Monthly rental: S$108,800 (approximately US$80,000 at current exchange rates); and
- Lease tenure: Five years, commencing April 15, 2026.
Purpose and Utilization
The new capacity will be utilized to:
- Support storage and staging of an expanded equipment fleet, including the Company's growing rental inventory;
- Provide dedicated capacity for hybrid and EV machinery;
- Facilitate maintenance, refurbishment, and operational turnaround activity; and
- Accommodate increased rental and sales volumes.
The expansion responds to three reinforcing dynamics shaping the global construction equipment sector: elevated oil prices, which continue to weigh on demand for diesel-powered machinery; a current slowdown in the Company's Middle East operations; and sustained end-market demand for cost-efficient, environmentally sustainable equipment across Singapore and the broader ASEAN region. By concentrating additional capacity in Singapore, Multi Ways is positioning its operational infrastructure closer to its highest-growth customer base and to the hybrid and EV fleet categories that the Company expects to drive its next phase of revenue growth.
"This expansion is the operational backbone for where our business is going. Demand patterns in construction equipment have shifted — customers want cleaner, lower-operating-cost machines, and they want them in markets where project pipelines are accelerating," said Mr. James Lim, Chairman and Chief Executive Officer of Multi Ways. "By anchoring additional capacity in Singapore and structuring the lease commitments to balance long-term stability with short-term flexibility, we are building the fleet infrastructure to meet that demand while keeping our commitments disciplined. The hybrid and EV opportunity is real, and we intend to capture it."
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 more than two decades of experience in the sales and rental of heavy construction equipment, the Company is well established as a reliable supplier of new and used heavy construction equipment to customers in Singapore, Australia, the UAE, the Maldives, Indonesia, and the Philippines. With our wide inventory of heavy construction equipment and complementary equipment 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
This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: [email protected]
