Engineering services provider Boustead Projects said its unit secured a design-and-build contract from Yusen Logistics for the redevelopment of an existing logistics facility in Tuas, Singapore.
The redevelopment involves the addition of a two-floor ramp-up warehouse which, when completed by fourth quarter 2018, will maximise the plot ratio of the existing logistics facility, the company said in a statement on Wednesday.
Japan-headquartered Yusen Logistics provides supply chain solutions in international freight forwarding, contract logistics and transportation and operates in more than 310 cities in 43 countries.
In Singapore, Yusen Logistics has seven logistics facilities strategically located across the island in the East and the West to provide supply chain services.
The company did not disclose the order value but said the latest contract takes the Boustead Projects' order book backlog to S$160 million.
This contract is not expected to have a material impact on the profitability, earnings per share or net tangible asset value per share of the Boustead Projects Group in the current financial year ending March 31, the company said.
Shares in Boustead Projects fell 1.2 percent to S$0.855 on the Singapore Exchange. The stock has risen 18 percent so far this year.
