Shipbuilder Penguin International wins first prime contract with Singapore Navy
Under the contract, two landing craft will be built entirely in Singapore, using Penguin’s in-house capabilities
Penguin International, a Singapore-listed shipbuilder, has secured its first prime contract with the Singapore Navy, marking a significant milestone in the company's 50-year history. The firm will build two landing craft for the Republic of Singapore Navy (RSN) under a contract executed entirely in Singapore, utilizing its in-house engineering capabilities.
This is Penguin's first naval shipbuilding programme as a prime contractor, reflecting the confidence placed in its people and engineering capabilities by the Ministry of Defence. Jeffrey Hing, Penguin's executive chairman, expressed that the award signifies the company's entry into naval shipbuilding and highlights its global track record.
The work will be carried out at Penguin's Tuas Road shipyard, equipped with large fabrication workshops and a 500-ton marine travelift. The contract value remains confidential, but Penguin expects it to positively impact its revenue and earnings from FY2027 onwards.
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