[SINGAPORE] Boustead Singapore’s engineering and construction business unit, under its real estate solutions division Boustead Projects, has clinched a design-and-build contract for a new pharmaceutical facility in Tuas.
While the value of the contract was undisclosed, the group said that the latest contract, coupled with its RM300 million (about S$90 million) data centre project, brings Boustead Projects’ order backlog to SS$249 million. The data centre project was announced last November, and involves the building of a four-storey centre, an adjacent two-storey substation and pumphouse. It is expected to be completed by the end of the 2026 financial year.
The two contracts also bring Boustead Group’s engineering order backlog to S$428 million. This comprises unrecognised project revenue remaining at the end of the first half of FY2025 and the total value of new orders secured since then.
In a bourse filing on Friday (Mar 28), Boustead said the integrated pharmaceutical manufacturing and research and development facility will play an important role in enhancing clients’ global network.
The facility, which will be located within Tuas Biomedical Park, will also allow them to “better meet growing demand from customers in advancing drug discoveries and treatments to patients in need”, said the infrastructure-related engineering and technology group.
Thomas Chu, managing director of Boustead Project’s engineering and construction business, added that the design-and-build process will fast-track the development process more efficiently.
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“Managing the entire project from start to end also allows us to focus on delivering a specialised end-product that caters to our clients’ specific operational and high-specification manufacturing needs,” he said.
The facility is expected to be completed by the third quarter of 2026.
Boustead does not expect the contract to have any material impact on its profitability, earnings per share and tangible net asset value per share in the financial year ending March 2025 and March 2026.
Shares of Boustead closed 2.9 per cent or S$0.03 higher at S$1.08 on Friday, before the news.
