SINGAPORE, Sept. 17, 2026 (GLOBE NEWSWIRE) -- Primech Holdings Limited (Nasdaq: PMEC) ("Primech" or the "Company"), a leading technology-driven facility services provider serving public and private sectors across Singapore, today announced that its subsidiary, Primech A & P Pte. Ltd. ("Primech A & P"), has secured a three-year integrated facility services contract with a financial services group in Asia, valued at approximately S$7.36 million (US$5.78 million).
Contract Details
Under the contract, Primech A & P will provide office cleaning, pest control and waste management services, bringing multiple essential facility requirements under an integrated service delivery model. Services under the contract are expected to commence in the second half of 2026.
The award demonstrates Primech A & P's ability to deliver multi-service facility solutions for large-scale corporate environments and further expands the Company's presence in the financial services sector.
The contract value is an estimate based on agreed scope and indicative service volumes, and actual revenue may vary based on usage and scope adjustments.
Advancing Primech's Integrated Facility Services Model
The contract reflects Primech A & P's continued expansion of its core cleaning capabilities through a broader integrated facility services model.
By combining office cleaning, pest control and waste management within a single engagement, Primech A & P will coordinate complementary facility services to support the day-to-day operational requirements of the client's corporate environment.
The multi-service scope builds on Primech A & P's established cleaning operations while broadening the range of facility services delivered to its customers. This approach enables the Company to address a wider range of operational requirements and deepen its engagement with major commercial and institutional customers.
The award also adds to Primech's portfolio of multi-year contracts, providing recurring business visibility while supporting the Company's continued expansion across key commercial sectors.
Management Commentary
"This contract represents an important addition to our commercial portfolio and demonstrates the breadth of services Primech A & P can deliver within a single engagement," said Ken Ho, Chairman and Chief Executive Officer of Primech Holdings Limited.
"As customers increasingly look for reliable partners that can support multiple aspects of their facility operations, we see opportunities to build on our core cleaning capabilities by delivering a broader range of integrated services. This contract brings together office cleaning, pest control and waste management, demonstrating how we can support more of our customers' facility requirements through a coordinated service model."
About Primech Holdings Limited
Primech Holdings Limited (Nasdaq: PMEC) is a Singapore-headquartered, technology-driven facilities services and AI robotics group with operations in Singapore and Hong Kong. Through its subsidiaries, the Group provides cleaning, facilities maintenance, stewarding, waste management and pest control services to public and private sector clients.
Through its subsidiary Primech AI, the Group develops HYTRON, an autonomous restroom-cleaning robot that combines AI perception with robotic manipulation. HYTRON has been commercially deployed in Singapore, with international expansion underway, including a distribution agreement in South Korea and market-entry activities in the United States. The Group also operates HomeHelpy, a digital home-services booking platform serving the consumer market.
Primech Holdings was incorporated in 2020 and listed on the Nasdaq Capital Market in October 2023. For more information, visit investor.primechholdings.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, for example, statements about the value, duration, scope, and revenue recognition of the contract described in this announcement, and about anticipated revenues, growth, and expansion. Contract values are estimates based on agreed scope, pricing, and expected service volumes. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "likely to" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's Annual Report on Form 20-F for the fiscal year ended March 31, 2026, filed with the SEC on July 29, 2026, and its other filings with the SEC.
Investor Relations
Primech Holdings Limited
ir@primechholdings.com
www.primechholdings.com
