Boustead Projects E&C, Boustead Singapore’s (SGX:F9D
) engineering and construction business under its real estate solutions division, has been awarded a contract involving the construction of an office complex in Singapore for a public sector client.
This latest contact, valued at over $400 million, is the largest contract win by value to date for Boustead Singapore.
With this win, Boustead Singapore’s real estate solutions division’s order backlog increased to $837 million. The contract also increased Boustead Group’s engineering order backlog to $1 billion.
“We are delighted to be awarded this public sector project which marks our largest project to date in terms of contract value. We look forward to building on our track record in the public sector space, with a strong focus on execution excellence and stringent quality, environmental, health and safety requirements,” says Thomas Chu, managing director of Boustead Projects E&C.
The contract will span across three years and is not expected to have a impat on Boustead Group’s profitability, earnings per share (EPS) for the financial year ending March 31, 2027.
Shares in Boustead Singapore closed 5 cents lower or 2.24% down at $2.18 on April 24.
