Boustead faces industry storm with war chest and finger on trigger

Singapore

BOUSTEAD Singapore's net profit fell 26 per cent in its second fiscal quarter under the weight of a depressed energy segment and heightened margin pressures, but the infrastructure engineering group is not shying away from hunting down acquisition opportunities if it can.

"The group continues to search for merger and acquisition and investment opportunities across its divisions in related business fields, as well as in potential new business fields," Boustead said in its earnings report on Friday. "Given the group's significantly improved net cash position of S$205.8 million and untapped S$500 million multi-currency medium-term note programme, the group is in an excellent position to capitalise on any good acquisition and investment opportunities that may arise."