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PR Newswire
07-10-2013, 07:02 PM
BOUSTEAD ENERGY-RELATED ENGINEERING DIVISION AWARDED S$38M IN CONTRACTS GLOBALLY
Over S$140 million in oil & gas contracts secured by division since start of FY2014 in April
Over S$300 million in contracts secured by Boustead Group in FY2014 Boustead Group’s order book backlog raised to S$523 million
Singapore, 7 October 2013
Boustead Singapore Limited (“Boustead”) is pleased to announce that its Energy-Related Engineering Division has recently secured approximately S$38 million in contracts from the oil & gas industries globally.
The contracts involve the design, process engineering and construction of waste heat recovery units – key environmentally-sustainable technology – and process heater system installation services for upstream and downstream oil & gas developments, primarily in Norway and Russia.
Mr Wong Yu Loon, Executive Director of Boustead, who is responsible for the Energy- Related Engineering Division, said, “The division has excelled in securing new contracts in FY2014, with over S$140 million in energy orders so far, significantly surpassing the value of energy orders secured for the whole of FY2013. The outlook for this division remains bright as we actively pursue enquiries globally to provide our specialist expertise in process heater systems, waste heat recovery units and process control systems.”
With the addition of the latest contracts, the Group has secured over S$300 million in new contracts in FY2014, which has also just surpassed the orders secured by the Group for the whole of FY2013. The Group’s order book backlog (as at the end of June plus new orders since then) currently stands at S$523 million.
The latest contracts are not expected to have a material impact on the profitability, earnings per share and net asset value of the Group in the current financial year ending 31 March 2014.
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None of the Directors or controlling shareholders of Boustead has any interest, direct or indirect, in the latest contracts.
Over S$140 million in oil & gas contracts secured by division since start of FY2014 in April
Over S$300 million in contracts secured by Boustead Group in FY2014 Boustead Group’s order book backlog raised to S$523 million
Singapore, 7 October 2013
Boustead Singapore Limited (“Boustead”) is pleased to announce that its Energy-Related Engineering Division has recently secured approximately S$38 million in contracts from the oil & gas industries globally.
The contracts involve the design, process engineering and construction of waste heat recovery units – key environmentally-sustainable technology – and process heater system installation services for upstream and downstream oil & gas developments, primarily in Norway and Russia.
Mr Wong Yu Loon, Executive Director of Boustead, who is responsible for the Energy- Related Engineering Division, said, “The division has excelled in securing new contracts in FY2014, with over S$140 million in energy orders so far, significantly surpassing the value of energy orders secured for the whole of FY2013. The outlook for this division remains bright as we actively pursue enquiries globally to provide our specialist expertise in process heater systems, waste heat recovery units and process control systems.”
With the addition of the latest contracts, the Group has secured over S$300 million in new contracts in FY2014, which has also just surpassed the orders secured by the Group for the whole of FY2013. The Group’s order book backlog (as at the end of June plus new orders since then) currently stands at S$523 million.
The latest contracts are not expected to have a material impact on the profitability, earnings per share and net asset value of the Group in the current financial year ending 31 March 2014.
[/align]
None of the Directors or controlling shareholders of Boustead has any interest, direct or indirect, in the latest contracts.