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A wholly-owned unit of Boustead Projects Ltd has clinched a design-and-build contract to redevelop an existing logistics facility in Tuas, revealed an SGX filing on Wednesday (23 August).
The work primarily involves adding a ramp-up warehouse spanning two levels that will maximise the property’s plot ratio upon completion by the fourth quarter of 2018.
The logistics facility is owned by Yusen Logistics Group, which provides a full range of standalone and customised supply chain solutions in transportation, contract logistics and international freight forwarding.
The total logistics provider operates in over 310 cities across 43 nations and has nearly 2.27 million sqm of warehouse space in strategic locations, including seven logistics facilities in eastern and western Singapore.
“We are honoured to be selected as the design-and-build partner of Yusen Logistics for the redevelopment of one of their existing logistics facilities in Singapore,” said Boustead Projects Managing Director Thomas Chu.
“This project reaffirms our status in Singapore as a leading builder of choice for international and regional third-party logistics (3PL) providers, and extends our track record to over 948,000 sqm of gross floor area constructed and developed for this industry.”
After securing the latest design-and-build contract, Boustead’s unrecognised project revenue as of 30 June 2017 and new work packages obtained since then have reached S$160 million.
However, it is not expected to have any material impact on the company’s profits, earnings per share or net tangible asset value per share in the current fiscal year ending 31 March 2018.
This article was edited by Denise Djong.
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