Boustead Singapore sealed S$60m deals from four plants

Its orderbook backlog now stands at S$415m.

In a release, Boustead Singapore Limited announced that its Energy-Related Engineering Division secured approximately S$60 million in contracts within the past month from the oil & gas industries globally.

The contracts involve the design, process engineering and construction of key largescale process systems and waste heat recovery units for downstream oil refineries and gas processing plants in Canada, Finland, Nigera and Saudi Arabia.

Mr Wong Fong Fui, Chairman and Group Chief Executive Officer of Boustead said, “The latest contracts represent a great start to the beginning of FY2014 and we hope to keep up good progress on negotiations for energy contracts throughout the year.

Riding on our established engineering track record, we continue to grow our global network of 84 countries which now extends to include Finland.”

With the addition of the latest contracts, the Boustead Group’s order book backlog (as at the end of December 2012 plus new orders since then) currently stands at S$415 million.

The latest contracts are not expected to have a material impact on the profitability, earnings per share and net asset value of the Boustead Group in the current financial year ending 31 March 2014.

None of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in the latest contracts.