Boustead wins design-and-build contract for Marsiling production facility

SINGAPORE - Boustead Projects has been awarded a design-and-build contract by AIMS AMP Capital Industrial Reit for the development of an industrial property in Marsiling.

The value of the contract was not disclosed in the filing with the Singapore Exchange on Thursday (Aug 4).

Construction work for the five-storey production facility is expected to start soon and be completed by the second half of 2017.

The latest contract has raised Boustead Projects' order book backlog to S$234 million, comprising unrecognised project revenue as at the end-March 2016 plus total value of new orders secured since then.

The award is not expected to have a material impact on the profitability, earnings per share and net tangible asset value per share of the group in the current financial year ending March 31, 2017.

Mainboard-listed Boustead Projects is a 51 per cent-owned subsidiary of Boustead Singapore Ltd.