Boustead Singapore - OCBC Investment 2024-05-07: Through The Looking Glass

• As one of the oldest continuous businesses in Singapore, Boustead Singapore (SGX:F9D) is a progressive engineering and technology group with operations spanning Energy Engineering, Real Estate, Geospatial Technology, and Healthcare.

FY24 has been an eventful year for Boustead (1/2)

• - Read this at SGinvestors.io -
• - Read this at SGinvestors.io -

FY24 has been an eventful year for Boustead (2/2)

• In 2HFY24, the focus was on the privatisation of Boustead Project (SGX:AVM), which was officially delisted from the Singapore Exchange (SGX) on 9 Feb 2024. The rationale for this was threefold:
  1. to simplify and optimise the group’s operating structure;
  2. to provide Boustead with greater control and flexibility to mobilise, optimise, and streamline resources across its businesses to improve operations and increase competitiveness; and
  3. to dispense with costs associated with complying with listing and other regulatory requirements, especially as Boustead Project’s shares had low trading liquidity.
• We expect the consolidation of Boustead Project to be accretive to Boustead Singapore in the long run.

Boustead Project's JVs

• Read more at SGinvestors.io.

Ada Lim OCBC Investment Research | https://www.iocbc.com/ 2024-05-07 SGinvestors.io

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