Boustead Projects Limited – a leading specialist in real estate solutions – is pleased to announce that its wholly-owned design-and-build subsidiary, Boustead Projects E&C Pte Ltd (“Boustead Projects E&C”) has secured a contract worth over S$70 million to design and build an integrated advanced high-tech manufacturing facility (the “Facility”) in Singapore.
With a gross floor area of approximately 36,300 square metres, the Facility is earmarked to achieve Green Mark Gold Plus under the Building & Construction Authority’s Green Mark Programme and is expected to be completed by the second quarter of calendar year 2020. The Facility is intended to expand the client’s existing operations in Singapore.
Mr Thomas Chu, Managing Director of Boustead Projects said, “We are extremely honoured to be selected by our client to design and build their new integrated advanced high-tech manufacturing facility in Singapore. The latest contract award also consolidates our competitive edge as Singapore’s leading progressive builder for highend, Industry 4.0-ready industrial facilities, and further extends our track record in the technology industry to over 440,000 square metres.”
Mr Chu added, “FY2019 continues to be a record-breaking year for Boustead Projects with our latest business development efforts yielding yet another strategic contract win in one of the world’s most advanced sectors. With the capture of nearly S$600 million in contracts in just the past three months, our order book backlog is at over three times our average annual design-and-build revenue over the past five years. These include the S$242 million JTC Multi-Storey Recycling Facility, Razer Southeast Asia HQ and over S$200 million Surbana Jurong Campus designed by world-renowned, award-winning architect Mr Moshe Safdie. Going forward, we will continue to focus our regional business development efforts in making further inroads into strategic high-value sectors
and identified areas of growth.”
Mr Chu noted, “As a result of the recent success in winning the above major projects, we have reinforced our position as the market leader in the industrial real estate sector. We have invested substantially in advanced capabilities with Industry 4.0 transformation standards and market-leading methodologies including 7D building information modelling, virtual design and construction, design for manufacturing and assembly, augmented and virtual reality, drone technology and integrated digital delivery, and will continue to invest in such advanced technologies in the future. These initiatives are visibly advancing our real estate partnership credentials with global industry leaders and furthering our competitive edge.”
The latest contract has raised the Boustead Projects Group’s order book backlog to approximately S$741 million (unrecognised project revenue remaining at the end of December 2018 plus the total value of new orders secured since then). The above contract is not expected to have a material impact on the profitability,
earnings per share (“EPS”) and net tangible asset value per share of the Boustead Projects Group in the current financial year ending 31 March 2019. However, it is expected to have a positive material impact on the Boustead Projects Group’s profitability and EPS for the financial year ending 31 March 2020.
About Boustead Projects Limited
Established in 1996, Boustead Projects Limited is a leading industrial real estate solutions provider in Singapore, with core engineering expertise in the design-and-build and development of industrial facilities for multinational corporations and local enterprises. To date, we have constructed and developed more than 3,000,000 square metres of industrial real estate regionally in Singapore, China, Malaysia and Vietnam. Our wholly-owned design-and-build subsidiary, Boustead Projects E&C Pte Ltd is approved by Singapore’s Building & Construction Authority (“BCA”) for Grade CW01-A1 and General Builder Class 1 License to execute building construction contracts of unlimited value.
Boustead Projects is a 53%-owned subsidiary of Boustead Singapore Limited, a progressive global infrastructure-related engineering services, geo-spatial technology and healthcare group. Visit us at www.bousteadprojects.com
