Stock Track | Boustead Soars 3.23% in Pre-Market on S$100+ Million Contract Win

Stock Track

04/01

Boustead Singapore Ltd's stock soared 3.23% in pre-market trading on Wednesday, driven by the company's announcement of a major contract win.

The company's unit, Boustead Projects E&C, has secured an engineering and construction contract worth over S$100 million to build a 10-storey ramp-up industrial facility at Tukang Innovation Drive in Singapore. The project is being developed through a 50-50 joint venture between Boustead Projects' subsidiary BP-Innovue and Lian Beng Group's subsidiary SLB Development.

This significant contract award has boosted Boustead's Real Estate Solutions Division order backlog to approximately S$400 million, while the group's overall engineering order backlog has increased to around S$600 million. The project completion is targeted within 24 months, providing visibility for future revenue streams.

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