27-10-2014, 08:21 PM
Just keep heads low, work hard and deliver...
Vested
Reduced Core
GG
http://infopub.sgx.com/FileOpen/Boustead...eID=320460
BOUSTEAD SUBSIDIARY AWARDED MILESTONE
CONSTRUCTION CONTRACT IN MALAYSIA
Expansion of business presence by division in new market of Malaysia
Boustead Group’s order book backlog raised to over S$487 million
Singapore, 27 October 2014
Boustead Singapore Limited (“Boustead”) is pleased to announce that a unit of its
wholly-owned subsidiary, Boustead Projects Pte Ltd (“Boustead Projects”) – a leading
specialist in industrial real estate solutions – has recently been awarded a milestone
construction management and construction contract, expanding Boustead Projects’
presence in the new market of Malaysia. Awarded to BP Engineering Solutions Sdn Bhd
(“BP Engineering Solutions”), the contract (the “Contract”) is for a medical device
manufacturing facility (the “Facility”) for a multinational corporation from the United
States, to be located at the Kulim Hi-Tech Park (the “KHTP”) in Malaysia. The Contract
value for the construction of the Facility is in excess of MYR90 million (~ S$35 million).
The construction of the Facility is expected to be completed in calendar year 2Q 2015.
The Facility is located in the state of Kedah at the KHTP, which received the FIABCI
Malaysia Property Award of Distinction in 2003 and is ranked as one of Asia’s top
business, industrial and technology parks. The 1,700-hectare integrated technology
park is home to capital-intensive and high value-added technology-related industrial
sectors including advanced electronics, mechanical electronics, telecommunications,
semiconductors, optoelectronics, biotechnology, advanced materials, research &
development and emerging technologies.
The Contract adds to Boustead Projects’ strategic expansion into Malaysia, where
Boustead Projects’ 35%-owned joint venture development, iBP @ Nusajaya was officially
launched in Iskandar Malaysia.
The Contract has raised the Boustead Group’s order book backlog (as at the end of June
2014 plus new orders since) to over S$487 million.
The 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 Contract.
By Order of the Board
Alvin Kok
Company Secretary
Vested
Reduced Core
GG
http://infopub.sgx.com/FileOpen/Boustead...eID=320460
BOUSTEAD SUBSIDIARY AWARDED MILESTONE
CONSTRUCTION CONTRACT IN MALAYSIA
Expansion of business presence by division in new market of Malaysia
Boustead Group’s order book backlog raised to over S$487 million
Singapore, 27 October 2014
Boustead Singapore Limited (“Boustead”) is pleased to announce that a unit of its
wholly-owned subsidiary, Boustead Projects Pte Ltd (“Boustead Projects”) – a leading
specialist in industrial real estate solutions – has recently been awarded a milestone
construction management and construction contract, expanding Boustead Projects’
presence in the new market of Malaysia. Awarded to BP Engineering Solutions Sdn Bhd
(“BP Engineering Solutions”), the contract (the “Contract”) is for a medical device
manufacturing facility (the “Facility”) for a multinational corporation from the United
States, to be located at the Kulim Hi-Tech Park (the “KHTP”) in Malaysia. The Contract
value for the construction of the Facility is in excess of MYR90 million (~ S$35 million).
The construction of the Facility is expected to be completed in calendar year 2Q 2015.
The Facility is located in the state of Kedah at the KHTP, which received the FIABCI
Malaysia Property Award of Distinction in 2003 and is ranked as one of Asia’s top
business, industrial and technology parks. The 1,700-hectare integrated technology
park is home to capital-intensive and high value-added technology-related industrial
sectors including advanced electronics, mechanical electronics, telecommunications,
semiconductors, optoelectronics, biotechnology, advanced materials, research &
development and emerging technologies.
The Contract adds to Boustead Projects’ strategic expansion into Malaysia, where
Boustead Projects’ 35%-owned joint venture development, iBP @ Nusajaya was officially
launched in Iskandar Malaysia.
The Contract has raised the Boustead Group’s order book backlog (as at the end of June
2014 plus new orders since) to over S$487 million.
The 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 Contract.
By Order of the Board
Alvin Kok
Company Secretary