Boustead Singapore

[vesfreq]

This is the strange part regarding the share price decline and the resolution of the libyan issue (as announced earlier). Since there is the "demerger", the rate of discount on boustead should be lesser. Should it be a case of sum of parts being greater than the sum of the whole? I was vested at 1.40 plus n exited at nearly 1.90. N seeing the meteoric decline in price is surely quite puzzling!

[shn]

It also puzzles me. Given that results for the next few quarters will be bad, my guess is that some fund is selling.

I will wait for it to drop near $1.25 as it appears to be a strong support level. Also, I wish to maintain a high cash level and will only accumulate when market offers me a price that I cannot refuse.

[Musicwhiz]

Watch their cash flows and Balance Sheet over the next few quarters.

Margins should come down for O&G deals and enquiry pipeline should slow, as a result of the oil price fall.

As for real estate, challenges are already well known, which is why BDP was set up.

Geo-Spatial should still be able to grow at a decent clip (i.e. 5% to 10% per annum).

I remain a shareholder and will wait for the full year results and final dividend announcement.

[greengiraffe]

Boustead is still a well run company. However, its core divisions are all facing headwinds:

Boustead Projects - heightened competition due to the austerity measures imposed on residential markets pushing competitors into commercial and industrial sector. There is no doubt they have transformed with the JV with SWF to sustain their razor thin edge in their core competence. However, unlike historically where everyone enjoys their little space under the sun, now everyone is competing for a focus spot under the cloudy, gloomy sky.

O & G - quite simply, whole world is under-pressured hence Boustead's O&G unit is no different

ESRI - the division will remain a stable growth earner. However, weakness in A$ will dull its true growth capability.

Boustead's proposed spin-off of Boustead Projects should be viewed as a transformation that will allow parent Boustead Singapore to embark on new directions. However, with cheap money flooding globally, it will be difficult to uncover undervalued assets at least until the next crisis unfold.

Knowing FF Wong - he is a conservative steward that will not overpay for new directions. Boustead will stay strong financially. What is happening now is Mr Market at work - an adjustment process that reflects mgt's outlook and preventing unrealistic expectations from growing into a bubble.

Vested
Reduced Core
GG

[thor666]

BOUSTEAD DEVELOPMENT PARTNERSHIP SECURES AEROSPACE FACILITY

 2nd development secured by Boustead Development Partnership, following in quick succession after inaugural development
 16th aerospace facility undertaken by Boustead Projects and 8th project at world-class Seletar Aerospace Park
 16th property in industrial leasehold portfolio, raising anticipated portfolio size to over 185,000 square metres of gross floor area
 Boustead Group’s order book backlog raised to over S$411 million

Singapore, 16 March 2015
Boustead Singapore Limited (“Boustead”) is pleased to announce that its wholly-owned subsidiary, Boustead Projects Pte Ltd (“Boustead Projects”) – a leading specialist in real estate solutions – has secured a 2nd development project under the Boustead Development Partnership (“BDP”). The BDP has been appointed as the developer and will design, build and lease a property serving as an integrated maintenance, repair and overhaul hangar and mezzanine office facility (the “MRO Facility”) to a leading European aerospace corporation (the “Client”) on a long-term lease. The MRO Facility will be located at the world-class Seletar Aerospace Park (the “SAP”) in Singapore. Established in August 2014, the BDP has a strategy to develop and redevelop modern logistics and high quality industrial facilities in Singapore, with a potential total investment pipeline of over S$600 million. The BDP is also the proposed investor for design-build-and-lease, development and redevelopment projects secured by Boustead Projects that meet the BDP’s investment criteria. The MRO Facility will have about 3,500 square metres in gross floor area to cater to the Client’s operations. Expected completion is in calendar year 4Q 2015. Mr Thomas Chu, Managing Director of Boustead Projects said, “We would like to express our gratitude to our Client for selecting us for yet another project with a member of the Client’s parent group. We previously completed three projects for the Client’s parent group: two aero engine test bed facilities under design-and-build projects, and also a design-build-and-lease project. The Client selected us given our proven ability to deliver and our reputation as the builder of choice for the aerospace industry, moreover in the Seletar Aerospace Park where we possess a great deal of experience.” The MRO Facility is the 16th aerospace facility undertaken by Boustead Projects and its 8th project within the SAP. Boustead Projects previously completed projects within the SAP for Airbus, Bell Helicopter, Bombardier, Hawker Pacific and Rolls-Royce. With the addition of the MRO Facility, Boustead Projects’ portfolio of industrial leasehold facilities (both completed and under construction) increases to 16 properties (including those with partners) with an anticipated gross floor area in excess of 185,000 square metres.

Mr Stephen Hawkins, Development Director of Boustead added, “We are delighted that the Boustead Development Partnership has captured its second development, in quick succession after securing our inaugural development last week. The progress made by the Boustead Development Partnership thus far is heartening and we look forward to further advancement on this strategic platform.” The BDP is awarding the design-and-build contract for the MRO Facility to Boustead Projects, which raises the Boustead Group’s order book backlog (as at the end of December 2014 plus new orders since then) to over S$411 million. This development contract is not expected to have a material impact on the profitability, earnings per share or net tangible asset value per share of the Boustead Group in the current financial year ending 31 March 2015. None of the Directors or controlling shareholders of Boustead has any interest, direct or indirect, in the above development contract.

By Order of the Board
Alvin Kok
Company Secretary

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[Teletubby]

Excellent news indeed. Eventually, Boustead will achieve that critical mass of properties needed to form an industrial REIT, and with the demerger of Boustead projects on the way, shareholders stand to gain even more with the unlocking of value resulting from the conglomerate discount. I view the recent correction favourably - it's a good time to buy more in anticipation of future value being unlocked.

Vested since 2012.

[CityFarmer]

The spin-off is one step closer to completion...

Boustead Singapore gets SGX nod to list Boustead Projects by way of introduction

SINGAPORE (Mar 25): Boustead Singapore ( Financial Dashboard) is a step closer to the spin off of its real-estate solutions business in a separate listing.

In a regulatory filing, Boustead Singapore said the Singapore Exchange has approved its plans to list up to 320 million shares or 49% stake in Boustead Projects on the Mainboard by way of an introduction.

This will be done through the distribution in specie to existing Boustead shareholders.
...
http://www.theedgemarkets.com/sg/article...troduction

[greengiraffe]

http://infopub.sgx.com/FileOpen/Boustead...eID=340261

PROPOSED DEMERGER OF THE REAL ESTATE SOLUTIONS
BUSINESS THROUGH THE DISTRIBUTION IN SPECIE OF
APPROXIMATELY (BUT NOT EXCEEDING) 49.0% OF THE
ISSUED SHARES IN BOUSTEAD PROJECTS LIMITED TO
SHAREHOLDERS AND THE PROPOSED LISTING OF
BOUSTEAD PROJECTS LIMITED ON THE MAIN BOARD OF
THE SINGAPORE EXCHANGE SECURITIES TRADING
LIMITED BY WAY OF AN INTRODUCTION – RECEIPT OF
ELIGIBILITY TO LIST

Looks likely to be the last major positives in the foreseeable future. Baring a swift improvement in the Industrial Real Estate market or O&G, Boustead's 2 main core divisions will face head winds.

Vested
Reduced Core

[greengiraffe]

Preliminary details for spinoff of Boustead Projects:

http://infopub.sgx.com/Apps?A=COW_CorpAn...19451147b6

EGM date 16 April 15

3 Boustead Projects for 10 Boustead shares own

[Kelvin]

Anyone knows if shares under scb brokerage, any complications?

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