Boustead Singapore's stock surged 3.31% during intraday trading on Monday, following the announcement of a significant co-investment in a new aerospace facility.

The company, through a subsidiary, is co-investing with UI Boustead Reit in the development of a build-to-suit aerospace facility in Seletar Aerospace Park. The project has an estimated value of around S$104 million and will be fully leased to a leading global aerospace corporation for approximately 22.5 years, featuring built-in rental escalations.

Boustead Singapore holds a 49% interest in this development, which represents a substantial long-term revenue stream and business expansion into the aerospace sector, explaining the positive market reaction.