Starburst expects big rise in Middle East revenue
Builder of shooting ranges cites surge in defence spending after Arab Spring
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[SINGAPORE] Starburst Holdings Ltd, a Singaporean builder of shooting ranges, expects revenue to rise fivefold as Middle East defence spending surges following the Arab Spring uprisings.
The company is pursuing as many as six contracts to provide firearms-training facilities to countries including the United Arab Emirates, executive chairman Edward Lim said. Projects in the region may drive sales in five to six years to S$100 million from S$21 million in 2013, he said.
Starburst is Singapore's best-performing stock since it listed its shares on July 10, soaring 145 per cent. The benchmark Straits Times Index added 1.7 per cent in that span.
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