Boustead Projects Limited (SGX: AVM) held its Annual General Meeting (AGM) on 26 July 2019. Here are nine takeaways from that AGM. 1. The cyclical headwinds have not abated for the industrial real estate sector in Singapore yet this year. The expectation last year was that the cycle will turn up by this year, but this has not happened because construction companies are still bidding for low-end construction jobs and undercutting the more established firms. Instead of going bust, these smaller players are somehow still hanging on. 2. BPL has worked on building up its capabilities, technological know-how, and competencies in the last few years, and it has moved up the value chain over time, leaving its competition behind. The idea is to be able to eventually bid for higher-value contracts s