Company Briefs: Boustead Projects

Boustead Projects

Boustead Projects has been awarded a contract under its wholly owned subsidiary Boustead Projects E&C to build an integrated research and development and office building in one-north.

The project is expected to be completed by the first quarter of 2020. It is Boustead's fourth business park project within one-north.

The latest contract has raised the group's order book backlog to $255 million, comprising unrecognised project revenue remaining at the end of June 2018 plus the total value of new orders secured since then.

Mr Thomas Chu, managing director of Boustead Projects said: "We are optimistic that our strong and sustained business development efforts will allow us to continue converting our steady pipeline of opportunities into new contracts both in Singapore and regionally."

This contract is not expected to have a material impact on the profitability, earnings per share and net tangible asset value per share of Boustead in the current financial year ending March 31, 2019.

Boustead Projects is involved in the design-and-build and development of industrial facilities for multinational corporations and local enterprises, and is a 53 per cent-owned subsidiary of mainboard-listed Boustead Singapore.

The Ascott Limited

CapitaLand's wholly owned serviced residence business unit, The Ascott Limited (Ascott), was named "Asia's Leading Serviced Apartment Brand" as it emerged the biggest winner for the serviced residence categories with a total of 11 prestigious accolades at this year's World Travel Awards Asia & Australasia ceremony.

Ascott has topped the industry with this honour in Asia for three consecutive years.

Voted by tourism professionals and business and leisure travellers worldwide, the accolades recognise Ascott for its excellence in quality and setting the benchmark for the industry.

It had been earlier named the "Leading Serviced Apartment Brand" in Europe and the Middle East at the respective region's World Travel Awards ceremonies.

A version of this article appeared in the print edition of The Straits Times on September 05, 2018, with the headline 'Company Briefs'. Print Edition | Subscribe