Boustead Projects

[cyclone]

Boustead Projects Awarded S$67M in Design-and-Build Contracts

Highlights :
* 2 contracts collectively worth about S$67 million in design-and-build contracts from repeat clients in Singapore and Vietnam
* The contract in Vietnam is for the design-and-build of a power solutions manufacturing facility expansion, with expected completion in calendar year 2018
* Logistics industry track record extended to nearly one million square metres of gross floor area
* Boustead Projects Group’s order book backlog raised to approximately S$242 million.

[ksir]

Boustead Projects Awarded S$67M in Design-and-Build Contracts

Highlights :
* 2 contracts collectively worth about S$67 million in design-and-build contracts from repeat clients in Singapore and Vietnam
* The contract in Vietnam is for the design-and-build of a power solutions manufacturing facility expansion, with expected completion in calendar year 2018
* Logistics industry track record extended to nearly one million square metres of gross floor area
* Boustead Projects Group’s order book backlog raised to approximately S$242 million.

It is rather surprising that even with such extreme downturn in Industrial estate, they still do well in building up their orderbook.
It seems that the competitors who cut-corner with low cost, started faltering.

The next big milestone will come from the one-north mediapolis project!
I am unable to fathom whether it will gather enough occupancy in such environment. However, since the business park is (CMIIW) targeting companies in new emerging industries and startups, imho, it is rather timely and will likely do quite well.

<one of my core>

[Musicwhiz]

Boustead Projects Awarded S$67M in Design-and-Build Contracts

Highlights :
* 2 contracts collectively worth about S$67 million in design-and-build contracts from repeat clients in Singapore and Vietnam
* The contract in Vietnam is for the design-and-build of a power solutions manufacturing facility expansion, with expected completion in calendar year 2018
* Logistics industry track record extended to nearly one million square metres of gross floor area
* Boustead Projects Group’s order book backlog raised to approximately S$242 million.

It is rather surprising that even with such extreme downturn in Industrial estate, they still do well in building up their orderbook.
It seems that the competitors who cut-corner with low cost, started faltering.

The next big milestone will come from the one-north mediapolis project!
I am unable to fathom whether it will gather enough occupancy in such environment. However, since the business park is (CMIIW) targeting companies in new emerging industries and startups, imho, it is rather timely and will likely do quite well.

<one of my core>

I have faith in Management being able to get through this difficult time. Also pleasantly surprised that they can build up orderbook despite the tough conditions. They are well poised to capture growth opportunities when the upswing comes, plus they are also doing well in terms of business development in Malaysia and Vietnam.

[ksir]

Boustead Projects Awarded S$67M in Design-and-Build Contracts

Highlights :
* 2 contracts collectively worth about S$67 million in design-and-build contracts from repeat clients in Singapore and Vietnam
* The contract in Vietnam is for the design-and-build of a power solutions manufacturing facility expansion, with expected completion in calendar year 2018
* Logistics industry track record extended to nearly one million square metres of gross floor area
* Boustead Projects Group’s order book backlog raised to approximately S$242 million.

It is rather surprising that even with such extreme downturn in Industrial estate, they still do well in building up their orderbook.
It seems that the competitors who cut-corner with low cost, started faltering.

The next big milestone will come from the one-north mediapolis project!
I am unable to fathom whether it will gather enough occupancy in such environment. However, since the business park is (CMIIW) targeting companies in new emerging industries and startups, imho, it is rather timely and will likely do quite well.

<one of my core>

I have faith in Management being able to get through this difficult time. Also pleasantly surprised that they can build up orderbook despite the tough conditions. They are well poised to capture growth opportunities when the upswing comes, plus they are also doing well in terms of business development in Malaysia and Vietnam.

The expansion overseas have been very well calibrated and NOT just expanding for the sake of growing top line. Case in point is Malaysia, jumped in with local JVs and slowly building up build & design projects there.
They are trying to do the same for China. However, with their conservativeness, it will take times and may not even be realised.
One of the thing that I admire from them is the ability to say no and walk away. This is very FF-Wong-like! Kudos!

[cyclone]

Boustead Projects Awarded Design-and Build Contract for Bolloré Logistics Facility

Highlights :
* Construction of the Facility is expected to be completed in calendar year 2019
* 4th logistics project secured in FY2018
* Logistics industry track record crosses one million square metres of gross floor area
* Boustead Projects Group’s order book backlog raised to S$300 million

Bolloré Logistics Singapore is a unit of Bolloré Logistics, a global leader in supply chain management, and one of the top 10 transport and logistics corporations in the world with a fully integrated logistics network in Asia Pacific.

[ksir]

Boustead Projects Awarded Design-and Build Contract for Bolloré Logistics Facility

Highlights :
* Construction of the Facility is expected to be completed in calendar year 2019
* 4th logistics project secured in FY2018
* Logistics industry track record crosses one million square metres of gross floor area
* Boustead Projects Group’s order book backlog raised to S$300 million

Bolloré Logistics Singapore is a unit of Bolloré Logistics, a global leader in supply chain management, and one of the top 10 transport and logistics corporations in the world with a fully integrated logistics network in Asia Pacific.

This is interesting, one after another.
I reckon this contract won is over S$50M.

Indirectly quote FF Wong:
We keep thinking that Spore Industrial design & build must be drying up soon, BUT we are surprised times and again!

[cyclone]

Boustead Development Partnership Launches Alice @ Mediapolis

Boustead Projects Limited announced that its co-investment partnership, the Boustead Development Partnership (“BDP”), has today launched its first business park development in Mediapolis, one-north. Named ALICE, the development is a multitenanted business park building designed to foster a thriving, synergistic community of established organizations and start-ups, providing them the space to converge, connect, collaborate and co-create.

Located at the junction of one-north Avenue and Media Link and a short distance from the Ayer Rajah Expressway, ALICE is situated right across the one-north Park from the nearby Mediacorp Campus. A 11-floor business park building with two basement carparks, ALICE comprises 39,487 square metres in gross floor area and will be integrated with collaborative spaces, food and beverage options, and an assortment of other recreational amenities. ALICE is also designed to house shared media facilities that will offer media companies the option and/or convenience of having more work done at a single location. Construction of ALICE is underway and expected to be completed by the fourth quarter of calendar year 2018.

More details in http://infopub.sgx.com/FileOpen/BPL_Anno...eID=493767

[Contrarian]

Stock has been very resilient. Very few sellers. Are they off to a faster growth path? :-)

[Musicwhiz]

Stock has been very resilient.  Very few sellers.  Are they off to a faster growth path?  :-)

I would expect the industrial market to start picking up slowly probably only after 2018, but their overseas expansion should start to bear fruit and show in the results. Meanwhile, they can continue to source for and build up their DB&L portfolio. Company still generates very good FCF and I look forward to the FY 2018 earnings.

[ksir]

Stock has been very resilient.  Very few sellers.  Are they off to a faster growth path?  :-)

I would expect the industrial market to start picking up slowly probably only after 2018, but their overseas expansion should start to bear fruit and show in the results. Meanwhile, they can continue to source for and build up their DB&L portfolio. Company still generates very good FCF and I look forward to the FY 2018 earnings.

BP is a cash cow.
Even after spending money for DB&L, they still keep paring down the debts.
The challenge is actually the more recent DB&L projects (those taken with BDP) which I reckon may not provide decent IRR in itself but rather, as a source of works to D&B unit.
The well built and up and running GSK building at one-north is a case in point.
I do not see much rental income generated from there.

<vested>


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