Multi Ways Expands Singapore Base Amidst Construction Boom

SINGAPORE – February 20, 2026 – Multi Ways Holdings Limited (NYSE American: MWG), a key supplier of heavy construction equipment, today announced a significant expansion of its operational footprint in Singapore, securing two new industrial leases from JTC Corporation totaling approximately 6,453 square meters.

The move is a direct response to surging demand driven by a robust pipeline of major infrastructure and construction projects, both within the city-state and across the wider Southeast Asian region. This strategic expansion is poised to enhance the company's capacity to store, refurbish, and deploy its vast inventory of heavy machinery, positioning it to better capitalize on a period of intense development.

Powering a Nation's Ambition

Singapore's construction sector is in the midst of a powerful upswing. The Building and Construction Authority (BCA) has projected sustained, high levels of construction demand, forecasting between S$47 billion and S$53 billion for 2026. This growth is underpinned by a slate of nation-building megaprojects that are set to reshape Singapore's landscape.

Chief among these is the monumental Changi Airport Terminal 5, with construction slated to begin in 2025. This project alone is expected to significantly boost construction output for years. Concurrently, the redevelopment of the Greater Southern Waterfront—a 1,000-hectare coastal area—is transitioning from planning to execution, with the first residential projects launching in late 2025. These initiatives, alongside ongoing work on the Cross Island and Thomson-East Coast MRT lines and new hospital facilities, create a formidable and sustained demand for heavy equipment like bulldozers, cranes, and excavators.

Industry analysts project the Singapore construction market to grow at a compound annual growth rate (CAGR) of over 5% through 2031. It is within this dynamic environment that Multi Ways Holdings is making its move, ensuring it has the physical infrastructure to support the nation's ambitious development goals.

A Strategic Footprint for Operational Excellence

The two new leases with JTC, Singapore's lead government agency for industrial development, are a calculated mix of stability and agility. The agreement includes a 3,450-square-meter facility under a three-year lease, providing a stable, long-term base for core operations. This is complemented by a 3,003-square-meter space secured under a one-year lease, offering the flexibility to scale operations in response to short-term, project-driven demand spikes.

This expansion of nearly 70,000 square feet is critical for operational supremacy in a competitive market. The additional yard and storage space will allow Multi Ways to manage a larger and more diverse inventory of equipment. More importantly, it enhances the company's ability to efficiently stage machinery for deployment, conduct refurbishment and cleaning services, and ultimately reduce turnaround times for its clients across the infrastructure, mining, and marine sectors.

The move also aligns with broader trends in Singapore's industrial real estate market, where demand for high-specification logistics and warehouse space remains strong. As companies increasingly focus on supply chain resilience, having well-located and ample physical capacity is a significant competitive advantage.

Beyond the Lion City: A Hub for Regional Growth

While the expansion is anchored in Singapore, its strategic implications extend far beyond the island's shores. Multi Ways serves a diverse clientele in markets including Australia, the UAE, the Maldives, Indonesia, and the Philippines. By strengthening its home base in Singapore—a premier global logistics hub—the company enhances its capability to serve these burgeoning regional markets.

The demand is not isolated to Singapore. The Philippines' ambitious "Build, Build, Build" program continues to fuel a need for construction machinery, while Indonesia's ongoing infrastructure development and mining activities present significant opportunities. The broader Asia-Pacific construction industry is forecast to grow by nearly 4% in 2026, representing a vast and expanding market for equipment suppliers.

This expansion effectively solidifies Singapore as the central nervous system for Multi Ways' regional operations. The enhanced capacity allows for more efficient export and deployment of equipment, leveraging Singapore's world-class port and connectivity to deliver for large-scale projects across Asia and the Middle East.

A Calculated Investment in the Future

This operational expansion represents a forward-looking investment and a vote of confidence in the industry's trajectory. The move comes after the company reported total revenues of $31.1 million for the fiscal year 2024, a decrease from the previous year, with operating cash flow reflecting significant capital investments in its equipment fleet. The company also recently executed a 1-for-10 reverse share split to maintain compliance with NYSE American listing standards.

In this context, committing to new long-term and flexible leases signals a clear strategy: invest through the cycle to build the foundational capacity required for future growth. By proactively securing this additional space, Multi Ways is preparing for the anticipated upswing in activity and ensuring it can meet client needs effectively.

Mr. James Lim, Chairman and Chief Executive Officer of Multi Ways, emphasized this forward-looking perspective in the company's announcement. “We are pleased to announce the lease of two new JTC spaces, which represent an important step in expanding our operational footprint in Singapore,” he stated. “As demand for heavy construction equipment continues to grow – driven by major infrastructure projects and ongoing development activity across the region – it is essential that we have the physical capacity to support our customers effectively. These new facilities will allow us to manage our expanding equipment inventory better, improve turnaround times, and position the Company for sustained growth in the periods ahead.”

With this strategic expansion, Multi Ways Holdings is not just acquiring more space; it is building a larger platform from which to power development, reinforcing its role as a critical enabler of progress in one of the world's most dynamic construction markets.