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18-05-2015, 06:22 PM
First award since demerger.
BOUSTEAD PROJECTS AWARDED S$34M DESIGN- AND-BUILD CONTRACT FOR HAFARY FACILITY
1st project awarded to Boustead Projects following recent listing on Main Board of SGX on 30 April 2015 2nd project awarded to Boustead Projects by SGX-listed Hafary Group Boustead Projects Group’s order book backlog raised to S$296 million
Singapore, 18 May 2015
Boustead Projects Limited's admission to and listing on the Singapore Exchange Securities Trading Limited was sponsored by CIMB Bank Berhad, Singapore Branch. CIMB Bank Berhad, Singapore Branch assumes no responsibility for the contents of this announcement.
Boustead Projects Limited (“Boustead Projects”) – a leading specialist in real estate solutions – is pleased to announce that it has been awarded a S$34 million contract to design and build an integrated commercial and logistics facility (the “Facility”) for World Furnishing Hub Pte Ltd (the “Client”). The Facility will be located in the Sungei Kadut Industrial Estate in Singapore. Listed on the Main Board of the SGX on 30 April 2015, Boustead Projects is a 51%owned subsidiary of Boustead Singapore Limited, a progressive global infrastructurerelated engineering services and geo-spatial technology group which is separately listed on the Main Board of the SGX. The Client is a joint venture under the home-grown Catalist-listed Hafary Holdings Limited (the “Hafary Group”). The Hafary Group is a leading supplier of premium tiles, stones, mosaic, wood flooring and sanitary ware in Singapore. Through its wellestablished sourcing and procurement network, the Hafary Group imports a wide variety of materials from international manufacturers based in China and Europe and supplies materials to commercial construction, corporate renovation, HDB upgrading, home renovation and redevelopment projects. To be completed in calendar year 3Q 2016, the Facility will have seven floors of space integrating both commercial and logistics aspects. The Facility is the second project awarded to Boustead Projects by the Hafary Group. Boustead Projects previously completed a logistics facility for the Hafary Group at the end of calendar year 2013. Mr Thomas Chu, Managing Director of Boustead Projects said, “This is the first project awarded to Boustead Projects following our recent listing on the Main Board of the SGX on 30 April 2015 and marks an auspicious start to life as a listed corporation. We would like to thank Hafary for entrusting us to design and build yet another strategicallyimportant facility for them. This will also be our first project in the Sungei Kadut Industrial Estate, a centre for the regional furniture industry where buyers and sellers, designers and manufacturers of the industry are concentrating their developments in.”
The latest contract will raise the Boustead Projects Group’s order book backlog (as at the end of December plus new orders since) to S$296 million. This contract is not expected to have a material impact on the profitability, earnings per share and net tangible asset value per share of the Boustead Projects Group in the current financial year ending 31 March 2016. None of the Directors or controlling shareholders of Boustead Projects has any interest, direct or indirect, in the above contract. By Order of the Board Eng Min Geok Company Secretary
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BOUSTEAD PROJECTS AWARDED S$34M DESIGN- AND-BUILD CONTRACT FOR HAFARY FACILITY
1st project awarded to Boustead Projects following recent listing on Main Board of SGX on 30 April 2015 2nd project awarded to Boustead Projects by SGX-listed Hafary Group Boustead Projects Group’s order book backlog raised to S$296 million
Singapore, 18 May 2015
Boustead Projects Limited's admission to and listing on the Singapore Exchange Securities Trading Limited was sponsored by CIMB Bank Berhad, Singapore Branch. CIMB Bank Berhad, Singapore Branch assumes no responsibility for the contents of this announcement.
Boustead Projects Limited (“Boustead Projects”) – a leading specialist in real estate solutions – is pleased to announce that it has been awarded a S$34 million contract to design and build an integrated commercial and logistics facility (the “Facility”) for World Furnishing Hub Pte Ltd (the “Client”). The Facility will be located in the Sungei Kadut Industrial Estate in Singapore. Listed on the Main Board of the SGX on 30 April 2015, Boustead Projects is a 51%owned subsidiary of Boustead Singapore Limited, a progressive global infrastructurerelated engineering services and geo-spatial technology group which is separately listed on the Main Board of the SGX. The Client is a joint venture under the home-grown Catalist-listed Hafary Holdings Limited (the “Hafary Group”). The Hafary Group is a leading supplier of premium tiles, stones, mosaic, wood flooring and sanitary ware in Singapore. Through its wellestablished sourcing and procurement network, the Hafary Group imports a wide variety of materials from international manufacturers based in China and Europe and supplies materials to commercial construction, corporate renovation, HDB upgrading, home renovation and redevelopment projects. To be completed in calendar year 3Q 2016, the Facility will have seven floors of space integrating both commercial and logistics aspects. The Facility is the second project awarded to Boustead Projects by the Hafary Group. Boustead Projects previously completed a logistics facility for the Hafary Group at the end of calendar year 2013. Mr Thomas Chu, Managing Director of Boustead Projects said, “This is the first project awarded to Boustead Projects following our recent listing on the Main Board of the SGX on 30 April 2015 and marks an auspicious start to life as a listed corporation. We would like to thank Hafary for entrusting us to design and build yet another strategicallyimportant facility for them. This will also be our first project in the Sungei Kadut Industrial Estate, a centre for the regional furniture industry where buyers and sellers, designers and manufacturers of the industry are concentrating their developments in.”
The latest contract will raise the Boustead Projects Group’s order book backlog (as at the end of December plus new orders since) to S$296 million. This contract is not expected to have a material impact on the profitability, earnings per share and net tangible asset value per share of the Boustead Projects Group in the current financial year ending 31 March 2016. None of the Directors or controlling shareholders of Boustead Projects has any interest, direct or indirect, in the above contract. By Order of the Board Eng Min Geok Company Secretary
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