Singapore's Boustead Projects secures two contracts worth S$67 mln

Engineering services provider Boustead Projects on Monday said its units secured two contracts totaling about S$67 million from repeat clients.

Boustead Projects
Image for representation purposes only. Reuters

Engineering services provider Boustead Projects on Monday said its units secured two contracts totaling about S$67 million from repeat clients.

The first contract was awarded to Boustead Projects E&C Pte Ltd for the design-and-build of a logistics facility in Singapore, with expected completion in calendar year 2019, the company said in a regulatory filing.

Expanding Boustead Projects' overseas presence and track record in Vietnam, the second contract was awarded to Boustead Projects (Vietnam) Co Ltd for the design-and-build of a power solutions manufacturing facility expansion, with expected completion in calendar year 2018, it said.

"Since the start of FY2018, we have secured S$174 million in contracts and aim to continue strong business development efforts both in Singapore and overseas," Thomas Chu, Managing Director of Boustead Projects said in a statement.

The latest contracts have raised the Boustead Projects Group's order book backlog to S$242 million, the company said.

Shares in company ended down 1.7 percent at S$0.85 on the Singapore Exchange. The stock has gained 20 percent in an year.

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