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Boustead Projects secures Singapore contracts worth S$56m

MAINBOARD-LISTED engineering company Boustead Projects said on Monday that its wholly-owned subsidiary Boustead Projects E&C has secured S$56 million of contracts in Singapore.

The first contract, valued at S$27 million, involves the design-and-build of an industrial waste management complex. It is the company's third project in the waste management industry.

Two other contracts, totalling S$29 million, were secured from repeat end-user clients for projects involving additions and alterations and fitouts, it said in a Singapore Exchange filing.

The latest contracts have raised the group's order book backlog to S$217 million.

The contracts are collectively expected to have a material impact on the profitability and earnings per share of FY 2018.

The company's shares closed unchanged at 85 Singapore cents on Monday.

sentifi.com

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