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Boustead Projects gets S$13m contract to design and build Boon Lay baking facility

Thursday, May 28, 2015 - 19:51

Following its recent listing on the Singapore Exchange mainboard, Boustead Projects has clinched another project - this time a S$13 million design-and-build contract for a baking facility in Boon Lay.

The facility is slated for completion in Q3 2016. It will house central baking operations and cold room facilities for "one of the leading bakery chains in Singapore", according to Boustead Projects.

The group said on Thursday that its client operates 33 retail outlets locally, and sells cakes and confectionaries through a portfolio of brands.

The latest contract will raise the group's order book backlog (as at the end of March plus new orders since) to S$263 million.

"This contract is not expected to have a material impact on the profitability, earnings per share and net tangible asset value per share of the Boustead Projects group in the current financial year ending March 31, 2016," said Boustead Projects.

Said Thomas Chu, its managing director: "This is the second project awarded to Boustead Projects in quick succession following our recent listing on the SGX. We are honoured to be selected by our client as their design-and-build partner for the relocation of their central baking facility. This marks our seventh project in the food processing industry, demonstrating our versatile track record in design and value engineering expertise for customised industrial facilities."

Boustead Projects is a 51 per cent-owned subsidiary of Boustead Singapore, which is separately listed on the SGX mainboard.

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