Boustead subsidiary awarded S$55m contract from SDV Logistics for first LEED Gold logistics facility in Singapore

  • Fourth industrial real estate contract secured since start of 2011
  • First facility in logistics industry in Singapore earmarked for LEED Gold

Boustead Singapore Limited (“Boustead”) is pleased to announce that its wholly-owned subsidiary, Boustead Projects Pte Ltd (“Boustead Projects”) – a leading specialist in industrial real estate solutions – has signed a S$55 million contract with SDV Logistics (Singapore) Pte Ltd (“SDV Logistics”) to design, construct and develop an integrated logistics facility (the “Facility”) for SDV Logistics located in Singapore.

The Facility will be developed by Boustead Projects’ wholly-owned subsidiary in Singapore known as BP-SDV Pte Ltd (“BP-SDV”).  Upon completion of the Facility, Boustead Projects will transfer its shares in BP-SDV to SDV Logistics.

The Facility is earmarked to be the first facility in the logistics industry in Singapore to be awarded LEED Gold – under the Leadership in Energy & Environmental Design, an internationally-recognised green building certification system developed by the US Green Building Council.  As the first of its kind in Singapore, the Facility reflects SDV Logistics’ corporate social responsibility and strong commitment towards the environment.  With a gross floor area of approximately 42,110 square metres, the Facility rises up five floors comprising sections for supply chain management and administrative offices, and has been designed as a ramp-up facility.  Completion is expected in August 2012.

Mr Thomas Chu, Managing Director of Boustead Projects said, “Boustead Projects is honoured to have the opportunity to once again partner with SDV Logistics – our repeat client – to deliver a key logistics facility in their global network.  Previously, Boustead Projects delivered a logistics facility for SDV Logistics at the award-winning Airport Logistics Park of Singapore.  The latest integrated logistics facility will establish SDV Logistics’ reputation as a pioneer in Singapore, as the facility will incorporate the highest levels in environment building technology to make it the first in the logistics industry to receive the LEED Gold.”

Mr Chu added, “This continues Boustead Projects’ proud tradition of helping our clients to achieve greater applications of environment building technology.  In 2009, Boustead Projects delivered the Applied Materials Building, the first facility in the heavy industry category to be awarded the Green Mark Platinum.  We greatly look forward to working with other clients to design and build more environmentally-sustainable facilities.”

The above contract is not expected to have any material impact on the profitability, earnings per share or net tangible asset value per share of Boustead for the financial year ending 31 March 2011 or the next financial year ending 31 March 2012.

None of the Directors or controlling shareholders of Boustead has any interest, direct or indirect, in the transaction.

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