BIH is the largest subsidiary in the energy-related engineering division of SGX mainboard-listed Boustead Singapore.
With the latest contract, Boustead Singapore’s order book backlog has been raised to $823 million.
The energy-related engineering division’s order book backlog has also doubled from its last reported value.
CEO of Boustead Wong Fong Fui says, “While the global O&G recession appears to have bottomed out, our recent success comes during a time when highly challenging and competitive market environment conditions remain.”
“Since the start of FY20, our Energy-Related Engineering Division has captured a total of over S$161 million in new contracts across major energy developments in Africa, Asia, Europe and North America, setting us in a good position for FY20 and beyond,” he adds.
Shares at Boustead Singapore closed 0.5 cent higher at 72 cents on Thursday prior to the announcement.
