AcroMeta's Laboratory Construction Business Rides on Singapore's Pandemic Readiness Strategy

- S$19m contract awarded for detailed engineering and construction of a high containment biosafety level research laboratory
- Research laboratories a vital link in Singapore's pandemic readiness strategy

SINGAPORE, Aug 15, 2023 - (ACN Newswire) - ACROMETA Group Limited, an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, announced today that its wholly-owned subsidiary company Acromec Engineers Pte Ltd has been awarded a S$19 million contract for the design and construction of a 1,500 sqm high containment biosafety level research laboratory.

The facility is designed for research on highly infectious pathogens potentially carried by infected animals and spread through airborne transmission.

The state-of-the-art project involves the construction of a high containment biosafety laboratory using modular panels for both reliability and durability to withstand long periods of hard usage and repeated commissioning. Construction would be carried out in a 'live' building with many existing tenants without affecting their operations. The facility is expected to be completed and certified by 2024 and will be compliant with WHO and MOH high containment facility standards.

Mr Lim Say Chin, ACROMETA's Executive Director and Chief Executive Officer, commented: "The award to Acromec is a testament to our engineering experience and capabilities. With its expertise and established track record in controlled environments engineering, AcroMeta is positioned to benefit from the construction of such laboratories as governments in the region strengthen their biomedical R&D capabilities to counter threats from infectious diseases."

Acromec, the wholly-owned engineering subsidiary of the Group, is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments. It has designed and built several high biosafety level R & D laboratories and manufacturing facilities for biomedical companies, such as 10X Genomics, Integrated DNA Technologies, and GenScript.

Research laboratories a vital link in Singapore's pandemic readiness strategy

Singapore emerged from the Covid-19 pandemic as one of the countries that scored high marks for its handling of the crisis. Every aspect of the pandemic was systematically studied, monitored, and appropriate actions taken - from procurement and cold storage of vaccines for the entire resident population, to laboratory testing and identification of each mutated variant of the virus as it evolved.

But the pandemic also revealed the need for Singapore to be prepared for future pandemics. The government has implemented the findings of the Covid-19 White Paper published on 8 March 2023 which detailed the 7 lessons to be learned from the pandemic and implemented a pandemic readiness strategy. The strategy takes a whole-country approach and involves participation by, and collaboration with the private sector as well as with the entire population.

Mr Levin Lee Keng Weng, ACROMETA's Executive Chairman, added: "Laboratories for the testing, identification and carrying out of research with live virus is a vital link in the Singapore government's preparedness strategy for future pandemics. These laboratories are not standard laboratories but highly specialised facilities; the design and construction of which can only be done by a handful of controlled environments experts such as Acromec."

This media release has been reviewed by the Company's Sponsor, Evolve Capital Advisory Private Limited. It has not been examined or approved by the Singapore Exchange Securities Trading Limited, and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com.

Reference:
https://links.sgx.com/1.0.0/corporate-announcements/QYHDGZS2TXQ25H0Q/cc60f5adb8665785b09fc0d7833240cd9253d57800c21ff2906079f092b27884

https://links.sgx.com/FileOpen/Acrometa-ProjectWinPressRelease_15Aug2023IDLabs%20-%20Final.ashx?App=Announcement&FileID=769346

About ACROMETA Group Limited (SGX Stock Code:43F)

ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments.

The Group has, over the years, acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.

ACROMETA's business is divided into three main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical, and process works within controlled environments; (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure. (iii) Co-Working Laboratory business; currently operates 6,500 square feet of co-working laboratory space at The German Centre in Singapore, serving SMEs and startups.

The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA's customers include hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies.

The Company has been listed on the Catalist board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.

Media and Analysts Contact:

ACROMETA Group Limited
Ms. Cheah Lai Min
Chief Financial Officer
Tel: +65 6415 0574
Email: laimin.cheah@acrometa.com

Waterbrooks Consultants Pte Ltd
Mr. Wayne Koo
Tel: +65 6958 8008 / +65 9338 8166
Email: wayne.koo@waterbrooks.com.sg, query@waterbrooks.com.sg