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Starburst bags S$13.1m contract to upgrade tactical training facility in South-east Asia
CATALIST-LISTED Starburst Holdings, which specialises in the design and engineering of firearms-training facilities, said on Monday that its wholly-owned unit has been awarded a S$13.1 million contract to upgrade a tactical-training mock-up facility in South-east Asia.
Under the contract, its subsidiary Starburst Engineering will design, supply and install ballistic protection works for the facility. Work is to start this month and be completed by July 2021.
This contract, to span two financial years, is expected to have a positive impact on the net tangible assets and earnings per share of the group for the financial year ending Dec 31, 2020, said Starburst.
In March, Starburst Engineering clinched a S$40.9 million contract to build a firearms-training facility in South-east Asia, which was scheduled to be completed by February 2022.
Starburst shares closed flat at S$0.38 on Monday.