Boustead

Boustead: Awarded a $14m contract to design and build an integrated food processing and office facility for RE&S Enterprises Pte Ltd (“RE&S”) to be located at the Paya Lebar iPark. Facility will have a GFA of approx 9.7k sqm spread across seven floors and is expected to be completed in 2Q13. Co’s orderbook now stands at $351m. Boustead currently trades at 8.0x P/E and price has been relatively stable compared to the broader mkt since start of the yr