Boustead Singapore says wholly-owned subsidiary, Boustead Salcon Water Solutions, the water and wastewater engineering specialist, has won a $25 million contract to design, engineer and construct a demineralisation plant at the Tembusu multi-utilities complex owned by Tuas Power.
Boustead Salcon will partner Boustead Projects, the specialist in industrial real-estate solutions to deliver the Demin plant.
Boustead Singapore says it is not going ahead with the acquisition of redeemable convertible notes and shares of Bio-Treat Technology.
Earlier, subsidiary Boustead Knowledge, had agreed to purchase 100 million Bio-Treat shares from Giant Delight Holdings Limited (GDL) at the price of 4 cents each.
Boustead says it decided to scale down its investment after Bio-Treat announced a rights issue of up to 992,236,440 new shares at 4 cents each to raise funds.
Shares of Singapore electronics retailer TT International <TINL.SI> fell as much as 14.3% on Tuesday after the local press reported that Boustead Singapore <BTSS.SI> has pulled out of a plan for a joint warehouse project.
TT International shares fell 14.3% to $0.03 on a volume of 615,000 shares before it requested a trading halt.
Boustead Singapore says wholly-owned subsidiary, Boustead Salcon Water Solutions – a leading global specialist in water and wastewater engineering – has been awarded a multi-million dollar contract to design, engineer and construct a water treatment and return condensate plant for TP Utilities, a subsidiary of Tuas Power, the third largest power generation corporation in Singapore.
Boustead Singapore says wholly-owned subsidiary Boustead Salcon Water Solutions – the specialist in water and wastewater engineering – has been awarded an AED55 million ($21 million) contract to design, engineer and construct a new water recycling plant for the enhanced treatment of treated sewage effluent in Abu Dhabi, the United Arab Emirates.
Boustead Singapore, the infrastructure-related engineering services and geo-spatial technology group, says wholly-owned subsidiary Boustead Knowledge has agreed to buy part of Giant Delight Holdings’ Bio-Treat Technology notes for $42,709,017. The notes can be converted into 854,180,330 Bio-Treat shares.
Boustead Singapore, the infrastructure-related engineering services and geo-spatial technology group, says it achieved a revenue of $438.4 million and net profit attributable to owners of the parent of $43.1 million, a decrease of 15% and 28% respectively for the year ended 31 March 2010 (FY2010).
Boustead Singapore says its 91.7%-owned subsidiary, Boustead Projects, the specialist in industrial real-estate solutions, has been awarded a $40 million contract from Cenco Inc to design-and-build an integrated test-bed facility at Seletar Aerospace Park. This is the fifth contract secured by Boustead Projects within the last eight months.
Boustead Singapore, the global infrastructure-related engineering services and geo-spatial technology group, announced its financial results for the third quarter ended 31 December 2009.
For 3Q FY2010 and 9M FY2010, the group said it achieved revenue of $103.6 million (-9.6% y-o-y) and $336.8 million (+3.6% y-o-y) respectively. Net profit attributable to owners of the parent were $8.7 million (-15.5% y-o-y) and $28.9 million (+13.7% y-o-y) for the respective periods.
Boustead Singapore (BOCS SP) rose 2.5% to 81 cents after it said yesterday it won two contracts worth $11 million from the power utility industry, reported Bloomberg.
Frasers Commercial Trust (FCOT SP) rose 3.3% to 15.5 cents. The company said it is selling 116.8 million so-called convertible perpetual preferred shares. Existing shareholders may buy one new share for every 20 shares held at $1 each, it said.
{jcomments on}
Boustead Singapore (F9D.SG) shot up at the opening, gaining 5.7% to hit 83.5 cents or more than its three-month high, as news of its engineering group’s order book reaching $500 million in two weeks fuel interest.
Boustead’s total contract value was boosted by its latest project worth $68 million to supply equipment to energy plants in Australia, Brazil, Saudi Arabia, UK. The deal comes just two weeks after Boustead landed its record largest contract, worth $107 million, to build production plant.
Boustead Singapore says its energy-related engineering division has secured $68 million in contracts from the oil & gas industries globally.
The contracts involve the design, engineering and construction of key process equipment for oil refineries, petrochemical and gas processing plants in Australia, Brazil, Saudi Arabia and the United Kingdom.
Boustead Singapore says its 91.7%-owned subsidiary, Boustead Projects — a specialist in industrial real-estate solutions — has been awarded a $107 million contract to design and build an integrated manufacturing and support facility for one of the world’s leading power systems corporations. The contract is the largest industrial real-estate solutions contract secured by Boustead Projects to date.
Boustead Singapore says it has received the “Most Transparent Company Award” (Runner-Up) in the Construction Category at last night’s Investors’ Choice Awards 2009 held at the Raffles City Convention Centre.
Organised by the Securities Investors Association (Singapore) and sponsored by the Singapore Exchange, the awards also celebrated Sias’ 10th Anniversary and was presided over by Minister for Finance Tharman Shanmugaratnam.
Boustead Singapore (BTSS.SI) said today it expects revenue growth this fiscal year to slow to around 10% as the economic downturn slowed orders and weakened the market for industrial properties.
The engineering firm, one of Singapore’s oldest companies, posted a 17.9% revenue growth in its last financial year that ended in March.
