Boustead Projects Secures Over S\$50 Million Phase 2 Fit-Out Contract from Fortune 500 Client in Singapore

Key Highlights of the Announcement

• Boustead Projects E&C Pte Ltd (a subsidiary of Boustead Singapore Limited) has been awarded a second phase fit-out contract valued at over S\$50 million.
• The contract was secured from a repeat client, a Fortune 500 corporation, underlining Boustead’s strong client relationships and reputation.
• The scope covers fit-out works of over 5,500 square metres within an integrated manufacturing, logistics, and office facility in Singapore, which was originally completed by Boustead Projects in 2024.
• Phase 1 of the project achieved the prestigious Green Mark Platinum rating (with badges for Health & Wellbeing and Intelligence) under the Building & Construction Authority’s revised Green Mark Certification Scheme 2021, emphasizing Boustead’s commitment to sustainability and smart building solutions.
• With this additional contract, the Real Estate Solutions Division’s order backlog has increased to S\$343 million, while the Boustead Group’s total engineering order backlog now stands at S\$506 million.

Details and Strategic Implications for Investors

The new contract further strengthens Boustead Projects’ standing as a preferred partner for leading multinational corporations, especially in high-value, complex integrated facility projects. The repeat engagement by a Fortune 500 client demonstrates strong client confidence in Boustead’s capability to deliver on advanced, sustainability-focused projects.

As noted by Mr. Thomas Chu, Managing Director of BP E&C, “We are honoured to have the continued trust of our client and would like to thank them for engaging us again for an additional project phase. Having delivered several projects for this client, we remain committed to supporting their continued growth in Singapore.”

Price-Sensitive Information for Shareholders

• Order Backlog Growth: The increase in order backlog across both the Real Estate Solutions Division and the greater Boustead Group provides greater earnings visibility and underpins future revenue streams.
• Impact on Financials:
  • The company stated that this contract is not expected to have a material impact on the profitability, earnings per share, and tangible net asset value per share for the financial year ending 31 March 2026.
  • However, it is expected to have a material impact on profitability and earnings per share for the financial year ending 31 March 2027.
  • There will still be no material effect on tangible net asset value per share in FY2027.

  This suggests significant revenue recognition will occur in FY2027, which may positively affect Boustead’s share price in anticipation of improved performance for that period.

• Quality of Client Base: Securing repeat business from a Fortune 500 company enhances Boustead’s credentials and could lead to further high-value opportunities.
• Recognition for Sustainability: With Green Mark Platinum achievements and focus on health, intelligence, and eco-sustainability, Boustead positions itself as a leader in the growing smart and green infrastructure market.

About Boustead Singapore Limited

Established in 1828, Boustead Singapore Limited (SGX:F9D) is one of Singapore’s oldest and most respected engineering and technology groups. The company operates across energy engineering, real estate solutions, geospatial technology, and healthcare, with a global project base in 95 countries and territories.

Boustead has received numerous awards, including the Forbes Asia 200 Best Under A Billion, Most Transparent Company Award, Sustainability Award (Runner-Up), and has been recognized as one of Singapore’s Best Employers and Fastest Growing Companies. It was also named among the Fortune Southeast Asia 500 and won the Corporate Excellence & Resilience Award.

Contact Information

For further investor and media enquiries, contact:
Mr Dominic Seow, Senior Manager, Corporate Marketing & Investor Relations
Phone: +65 6747 0016
Direct: +65 6709 8111
Email: [email protected]

Disclaimer: The information in this article is based on company disclosures and is provided for general information purposes only. It does not constitute investment advice or a recommendation to buy or sell any shares. Investors should conduct their own due diligence or consult a qualified financial advisor before making investment decisions.

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