Penguin International Limited ( (SG:BTM) ) has provided an announcement.

Penguin International has secured a turnkey contract from Singapore’s Ministry of Defence to design, engineer and construct two landing craft for the Republic of Singapore Navy. While key commercial and technical details are confidential, the programme will be executed entirely in Singapore at Penguin’s Tuas shipyard, leveraging the group’s extensive in-house engineering and fabrication capabilities.

The award marks Penguin’s first naval shipbuilding programme as a prime contractor for the Singapore navy, signalling a strategic shift into defence and complex naval platforms. Management describes the project as transformational, strengthening national maritime resilience, enhancing Penguin’s position within Singapore’s defence ecosystem and providing a reference point for future global naval and government maritime opportunities.

The contract is expected to contribute positively to Penguin’s revenue and earnings from the 2027 financial year and over the duration of the project, though it will not materially affect net tangible assets per share in the current year. The deal underscores growing confidence in a homegrown independent shipbuilder to deliver complex naval vessels and may broaden Penguin’s long-term growth trajectory in defence-related markets.