Multi Ways Holdings Delivers Mixer Trucks, Accelerates EV Plans to Capitalize on Singapore Construction Electrification Incentives

(SeaPRwire) –   Growing EV Product Range Via C&C Partnership Talks; Gearing Up for Imminent Launch of Hybrid and Electric Construction Equipment to Support Singapore’s Mega Projects

SINGAPORE, April 07, 2026 — Multi Ways Holdings Limited (“Multi Ways,” the “Company” or the “Issuer”) (NYSE American: MWG), a top supplier of a broad selection of heavy construction equipment for sale and rental across Singapore and surrounding regions, today announced the successful handover of five mixer trucks to customers, marking consistent operational delivery that meets ongoing project demand. Alongside this delivery milestone, the Company unveiled a strategic plan to diversify its portfolio into electric vehicle (EV) and hybrid construction equipment — a direct response to climbing fuel costs and a deliberate move to align with Singapore’s government-backed incentive program for early EV adopters in the construction industry.

Multi Ways is currently in active negotiations with C&C to expand its catalog of electric vehicle products, while simultaneously preparing for the upcoming commercial rollout of hybrid and electric construction equipment. Fuel cost volatility has become a long-term structural pressure across the construction sector, and the Company is adjusting its product offerings to provide clients with energy-efficient alternatives that lower total ownership costs and improve long-term project economics.

Mr. James Lim, Chairman and Chief Executive Officer of Multi Ways, commented: “Delivering five mixer trucks to our clients showcases the operational reliability and product quality that shape our customer relationships. Beyond this delivery, we are making decisive moves to future-proof our business. Rising fuel costs are not a temporary headwind — they are a permanent part of our operating environment, and our clients need solutions that address this reality. Our expanded EV product negotiations with C&C, paired with the imminent launch of hybrid and electric construction equipment, position Multi Ways at the forefront of Singapore’s construction energy transition. We aim to be the go-to partner for our clients as this transition speeds up.”

Multi Ways is currently an active contributor to Singapore’s landmark infrastructure program, commonly known as the nation’s ‘Mega Projects’ initiative. The Company’s construction equipment is deployed to support Changi Airport Terminal 5 — one of the most impactful aviation infrastructure developments in Southeast Asia — and the Long Island reclamation project, a transformative coastal development project. In relation to these projects, Multi Ways is in active discussions with cement batching plants to integrate its newest hybrid and EV construction equipment into their operations. Securing these integration partnerships would represent meaningful commercial validation of the Company’s large-scale electrification strategy.

A key market catalyst driving the Company’s electrification strategy is Singapore’s Energy Efficiency Grant (EEG), administered through the Singapore Government’s GoBusiness platform. The EEG provides funding support of up to 70% of eligible equipment acquisition costs for qualifying SME businesses in the construction sector — covering equipment categories including electric crawler cranes, electric excavators, and electric wheel loaders. This level of government co-investment significantly lowers the capital barrier for clients and project operators considering adopting hybrid and electric construction equipment.

The Company expects to finalize the terms of its expanded EV product agreement with C&C and complete near-term preparations for the commercial launch of its hybrid and electric construction equipment line.

About Multi Ways Holdings Limited

Multi Ways Holdings supplies a broad range of heavy construction equipment for sale and rental in Singapore and the surrounding region. With more than 20 years of experience in heavy construction equipment sales and rental, the Company is well established as a trusted supplier of new and used heavy construction equipment to customers in Singapore, Australia, the UAE, the Maldives, Indonesia, and the Philippines. With its large inventory of heavy construction equipment and complementary equipment refurbishment and cleaning services, Multi Ways is well-positioned to serve customers as a one-stop shop. For more information, visit www.multiwaysholdings.com.

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