Company Announcements

SINGAPORE, May 01, 2024 (GLOBE NEWSWIRE) -- Primech Holdings Limited (Nasdaq: PMEC) ("Primech" or the "Company"), an established technology-driven facilities services provider in the public and private sectors operating mainly in Singapore, has engaged Strategic Investor Relations, a premier investor relations firm, to enhance Primech’s visibility in the financial community and support its ongoing efforts to engage and educate current and potential investors about the company’s growth and strategic initiatives.

With this new partnership, Primech aims to refine its communication strategies and investor relations activities to ensure stakeholders are fully informed and engaged with the company's progress and prospects. Strategic Investor Relations will assist Primech in highlighting its innovative solutions, strong customer base, and commitment to sustainability to the investment community.

Primech operates in Singapore's rapidly growing cleaning, landscaping, pest control, and waste management industries, which have seen significant expansion due to technological advancements and increased demand across various sectors. According to Singapore Department of Statistics, the market size has grown from S$1,836.8 million (US $1,347.4 million) in 2014 to S$3,426.5 million (US $2,569.9 million) in 2022, representing a compound annual growth rate of 8.1%. This growth trajectory is supported by the government's strong focus on enhancing industry standards and operational efficiencies through technology. As a key player in this sector, Primech is well-positioned to leverage these market dynamics to accelerate its growth and enhance its service offerings.

Primech has demonstrated robust capabilities in managing complex service requirements across various sectors, including education, hotels, and aviation, with Singapore Changi Airport, Nanyang Technological University, and the Ministry of Education of Singapore among its notable clientele. The Company is renowned for its commitment to excellence, evidenced by numerous accolades, such as the repeated attainment of the Clean Mark Gold Award.

In recent years, Primech has embarked on several strategic initiatives to bolster its market position and operational efficiency. These include adopting advanced technological solutions like autonomous robots for cleaning and developing the proprietary "HomeHelpy" platform, enhancing customer interaction and service delivery in both B2B and B2C markets. Furthermore, Primech’s commitment to sustainability is evident in its integration of eco-friendly practices and technologies, including electric vehicles and green chemicals for cleaning.

"Engaging with Strategic Investor Relations represents an important step towards strengthening our relations with current and prospective investors and better communicating our financial story and market opportunities," said Mr. Kin Wai Ho, Chief Executive Officer of Primech. "We are committed to enhancing our transparency and engagement with the investor community as we expand and innovate within the facilities services sector. Together with the expertise of Strategic Investor Relations, we are confident in our ability to communicate our vision and operational successes more effectively, driving enhanced shareholder value."

Mr. Matthew Abenante, President of Strategic Investor Relations, commented, “We are thrilled to partner with Primech Holdings Limited, a trusted leader in the facilities services sector. Primech's commitment to innovation and strategic expansion into cutting-edge technologies and sustainability positions them uniquely for significant growth. I am extremely excited about the future for Primech as it continues to innovate and expand its service offerings, ensuring the company remains at the forefront of the facilities services industry.”

“We look forward to supporting their journey and are confident that Primech's exciting future will deliver substantial value to their stakeholders," concluded Mr. Abenante.

About Primech Holdings Limited

Headquartered in Singapore, Primech Holdings Limited is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore, with expanding operations in Malaysia. With a legacy of excellence and innovation in the facilities services industry, Primech offers an extensive range of services tailored to meet the complex demands of its diverse clientele. The Company's service portfolio includes advanced general facilities maintenance, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Additionally, Primech manufactures and supplies various high-quality cleaning products under its brand, extending its reach and capabilities within the industry. Known for its commitment to sustainability and cutting-edge technology, Primech integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond. For more information, visit www.primechholdings.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth and expansion. 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 you that such expectations will turn out to be correct, and 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 registration statement and other filings with the SEC.

Company Contact:        
Email: ir@primech.com.sg

Investor Relations Contact:        
Matthew Abenante, IRC
President                                        
Strategic Investor Relations, LLC                                         
Tel: 347-947-2093
Email: matthew@strategic-ir.com