Boustead Singapore Announces Major Joint Venture for Aerospace Facility Development
Boustead Singapore Limited (SGX:F9D) has announced a significant joint venture with UI Boustead REIT, marking a strategic move in the development and ownership of a build-to-suit aerospace facility in Singapore. This development follows a series of high-profile corporate milestones and contract wins, positioning Boustead as a key player in Singapore’s real estate and engineering sectors.
Key Points for Investors
- Joint Venture Structure: The JV is set up as a limited liability partnership (LLP), with Boustead Singapore holding 49% and UI Boustead REIT holding 51%. This structure aligns the interests of both parties and leverages their respective strengths in real estate and engineering.
- Land Lease Secured: The LLP has received a letter of offer from JTC Corporation for a 24.5-year lease on several lots at Seletar Aerospace Road 1, covering approximately 29,986 square metres. This long-term lease secures Boustead’s presence in a strategic industrial zone.
- Engineering & Construction Contracts: Boustead Projects E&C Pte. Ltd. (BPEC), Boustead’s principal engineering arm, has been awarded part of the construction work and will serve as the EPCM consultant for the project. The REIT Manager will provide development management services.
- Major Contract Value: With this addition, Boustead Group’s new contracts since the start of FY2027 have reached approximately S\$461 million. This momentum underscores Boustead’s robust pipeline and growing market share.
- Client Agreement Secured: The LLP has entered into an agreement for lease with a leading global aerospace corporation, setting out terms for development, construction, and tenancy of the new facility. This de-risks the project and ensures recurring income post-completion.
Potential Price-Sensitive Information
- Financial Impact: The contract is not expected to have a material impact on profitability, earnings per share, or tangible net asset value per share for the current financial year ending 31 March 2027. However, the long-term benefits—such as recurring rental income and enhanced asset base—may positively affect Boustead’s valuation in subsequent years.
- No Director or Major Shareholder Interests: Aside from their shareholding in Boustead Singapore, neither directors nor controlling shareholders have any direct or indirect interest in the Agreement for Lease, reducing potential conflicts of interest.
Corporate Developments Over Past Year
- Boustead Projects E&C secured its largest-ever contract (over S\$400 million) for a public sector office development in April 2026.
- In March 2026, Boustead Projects E&C was awarded contracts exceeding S\$100 million for ramp-up industrial developments and over S\$50 million for fit-out works for a Fortune 500 client.
- UI Boustead REIT successfully listed on SGX Mainboard in March 2026, marking the world’s largest REIT IPO of the year, and Boustead Projects completed divestments of interests in 21 Singapore assets to UI Boustead REIT.
- Boustead Projects E&C also secured contracts for semiconductor facility reconfiguration and industrial land sales programme sites.
Company Overview
Boustead Singapore Limited, established in 1828, is Singapore’s oldest business organisation and a global leader in infrastructure-related engineering and technology. The company’s focus spans energy infrastructure, smart and eco-sustainable real estate, geospatial solutions (with exclusive rights to Esri ArcGIS in Asia Pacific), and innovative healthcare solutions. Boustead operates in 95 countries and territories, and is a recipient of multiple awards, including Forbes Asia 200 Best Under A Billion and Singapore Corporate Excellence & Resilience Awards.
Contact Information
For investor and media queries:
Mr Dominic Seow, Senior Manager, Corporate Marketing & Investor Relations
T: +65 6747 0016 | D: +65 6709 8111 | E: [email protected]
Disclaimer
This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult financial advisors before making any investment decisions. The information herein is based on company announcements and may not reflect all developments or risks related to Boustead Singapore Limited.
宝盛新加坡公司宣布与 UI Boustead REIT 合作开发航空航天设施
宝盛新加坡有限公司（SGX:F9D）宣布与 UI Boustead REIT 建立重大合资企业，将在新加坡开发并拥有定制的航空航天设施。这一举措继近期一系列高调的企业发展和合同签署之后，进一步巩固了宝盛在新加坡房地产和工程领域的地位。
投资者关注要点
- 合资结构： 合资公司为有限责任合伙企业（LLP），宝盛新加坡持股49%，UI Boustead REIT持股51%。此结构有利于双方发挥各自优势，共同推动项目发展。
- 土地租赁： LLP 已获 JTC 公司提供24.5年租约，位于 Seletar Aerospace Road 1，土地面积约29,986平方米，确保宝盛在战略工业区域的长期布局。
- 工程与建设合同： 宝盛主要工程公司 Boustead Projects E&C Pte. Ltd.（BPEC）获得部分建设合同，并担任EPCM顾问。REIT管理方将提供开发管理服务。
- 合同总额： 截至2027财年，宝盛集团新合同总额约4.61亿新元，显示出公司强劲的业务增长势头。
- 客户租赁协议： LLP已与全球领先的航空航天公司签订租赁协议，明确开发、建设和租赁新设施，为项目带来长期稳定收益。
可能影响股价的重要信息
- 财务影响： 该合同预计不会对2027财年（截至2027年3月31日）利润、每股收益或每股有形净资产价值产生重大影响，但长期来看，租金收入和资产基础提升可能带来估值正面影响。
- 无董事或主要股东利益冲突： 除持股外，宝盛董事或控股股东均无直接或间接利益，降低潜在利益冲突风险。
过去一年重要企业发展
- 2026年4月，宝盛项目E&C获得最大合同（超4亿新元），用于公共部门办公楼建设。
- 2026年3月，宝盛项目E&C获超1亿新元合同用于工业开发，以及超5千万新元合同用于财富500强客户的装修工程。
- UI Boustead REIT于2026年3月成功在新交所主板上市，成为年度全球最大REIT IPO，宝盛项目也完成21项新加坡资产剥离。
- 宝盛项目E&C还获得半导体设施改建及工业土地销售项目合同。
公司简介
宝盛新加坡有限公司成立于1828年，是新加坡最古老的企业，也是全球基础设施相关工程与科技领导者。公司专注于能源基础设施、智能及生态可持续房地产、地理信息解决方案（亚洲独家Esri ArcGIS代理）及创新医疗解决方案。业务遍及全球95个国家和地区，屡获知名奖项，包括福布斯亚洲200强和新加坡企业卓越与韧性奖。
联系方式
投资者及媒体查询：
Mr Dominic Seow，高级经理，企业营销与投资者关系
电话：+65 6747 0016 | 直线：+65 6709 8111 | 邮箱：[email protected]
免责声明
本文仅供参考，并不构成投资建议。投资者应自行研究或咨询专业理财顾问后再做决策。本文信息源自公司公告，未必涵盖所有相关进展或风险。
