Boustead: 3 announcements. Has been awarded a $42m contract from Cenco Intl to design and build an integrated test bed facility for end client Singapore Aero Engine Services. The facility will have 8.9k sqm and will house various functions incld test support, mech and electrical services.
Co has also disposed a total of 17 strata title units at 63 Ubi Ave 1 for sale price of $14.6m pursuant to an option to purchase. Co will book a net gain of $8.6m on the disposal.
Co has also sold of a subsidiary BP-HP for $14.6m to Hawker Pacific and is expected to record a gain of $2.2m from the disposal. Disposal is due to Hawker Pacific exercising its option due to a lease agr. The net book value of BP-HP was $14.0m.
Co currently has order book of up to $388m and trades at fwd 12.4x P/E.
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