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Boustead bought 567000 shares of BPJ on 9.12.22, bringing its holding to 54.80%. Company insider Mr Wong held 16.83% of BSP thru nominees and another 2.46% thru his fund. As it stands, BPJ still have some prorperties yet to be injected into Boustead Industral Fund. The last ttime they did, both Boustead and BPJ paid big dividends. It may be another 2 years before more properties get injected into BIF but insider already making the move now. Best scenario is that after significant properties been injected into BIF, BIF will get listed as reit [BPJ will be the sponsor and manager] and shareholders of Bostead and BPJ can look forward to earning of reurring fee. Best part is BPJ should eventually hold 51% of BIF. Wtih these as backdrops, I am not sure whether to accumulate more Boustead or Boustead projects as I am currently holding both.
Commentary (Boustead Projects related)
The biggest headline of the month was FTX bankruptcy. The spectacular failure of FTX had all the making of a Hollywood blockbuster. SBF came from been a hero to zero in a mere 3 years. The once 32b business managed to pull wool over some of the biggest investors in the world including our SWF. The ?bank man got fried? investing in the company. Billions were loss. Many people loss their saving.
https://lonewolfinvestor.blogspot.com/2022/11/wolf-moneyportfolio-update-for-end-nov.html
The biggest headline of the month was FTX bankruptcy. The spectacular failure of FTX had all the making of a Hollywood blockbuster. SBF came from been a hero to zero in a mere 3 years. The once 32b business managed to pull wool over some of the biggest investors in the world including our SWF. The ?bank man got fried? investing in the company. Billions were loss. Many people loss their saving.
https://lonewolfinvestor.blogspot.com/2022/11/wolf-moneyportfolio-update-for-end-nov.html
Boustead Projects posts 30% rise in H1 net profit to S$7.7 million
Boustead Projects' net profit for the six months ended Sep 30 rose to S$7.7 million from S$5.9 million in the year-ago period. PHOTO: PIXABAY
MAINBOARD-LISTED Boustead Projects reported on Thursday (Nov 10) a 30 per cent increase in net profit for its first half, mainly due to higher interest income and a higher share of profit of associates and joint ventures.
Net profit for the six months ended Sep 30 rose to S$7.7 million from S$5.9 million in the year-ago period. On a per-share basis, earnings rose to S$0.024 from S$0.019 in H1 FY2022.
The group&rsquo s overall revenue fell 34 per cent on year to S$117.7 million, mainly due to lower revenue contributions from the engineering & construction business, in line with a leaner order backlog of projects carried forward at the end of FY2022.
This was partially offset by higher revenue contributions from the group&rsquo s real estate business, owing to higher rental income from growing real estate activities in Vietnam, Boustead said in a bourse filing.
Wong Yu Wei, executive deputy chairman of Boustead Projects, said: &ldquo Overall, we delivered a respectable performance for H1 FY2023, amid the challenging and complex operating environment, where global inflation and tighter local conditions for manpower, materials and supply chain pose potential adverse risks.&rdquo
He added that the progressive clearing of projects secured pre-pandemic will free up resources that will enable the group to take on new projects in high value-added sectors.
Boustead&rsquo s current order backlog stands at S$452 million, having secured S$320 million in new contracts since the start of FY2023.
Net asset value per share as at Sep 30 stood at S$1.265, up from S$1.234 a year earlier. No dividend was declared, unchanged from a year earlier as it is not the company&rsquo s practice to declare an interim dividend.
Commentary (Boustead projects related)
It had been a while since I felt the butterflies in my stomach. There are plenty of mixed emotions at play. I would be lying if I told you I am not chuffed by the recent falling market. Finally value had arrived for a proper bargain hunt. On the other hand, it felt like déjà vu, the ghost of GFC had returned.
https://lonewolfinvestor.blogspot.com/2022/10/wolf-moneyportfolio-update-end-oct-2022.html
It had been a while since I felt the butterflies in my stomach. There are plenty of mixed emotions at play. I would be lying if I told you I am not chuffed by the recent falling market. Finally value had arrived for a proper bargain hunt. On the other hand, it felt like déjà vu, the ghost of GFC had returned.
https://lonewolfinvestor.blogspot.com/2022/10/wolf-moneyportfolio-update-end-oct-2022.html
Commentary(Boustead Projects related)
The biggest event of the year must be the passing of the Queen of England. I got great respect for her enduring and unwavering resolve to serve out her role as Queen till her death. In the modern era, people just don?t have that kind of loyalty and patience towards their company and job. Job hopping is common and loyalty counts for little, companies likewise. To have the Queen in the job for 70 years is no mean feat, a dedication few people could match.
https://lonewolfinvestor.blogspot.com/2022/09/wolf-moneyportfolio-update-end-sept.html?m=1
The biggest event of the year must be the passing of the Queen of England. I got great respect for her enduring and unwavering resolve to serve out her role as Queen till her death. In the modern era, people just don?t have that kind of loyalty and patience towards their company and job. Job hopping is common and loyalty counts for little, companies likewise. To have the Queen in the job for 70 years is no mean feat, a dedication few people could match.
https://lonewolfinvestor.blogspot.com/2022/09/wolf-moneyportfolio-update-end-sept.html?m=1
Boustead Projects related
https://lonewolfinvestor.blogspot.com/2022/09/wolf-moneyboustead-projectslong-post.html?m=1
https://lonewolfinvestor.blogspot.com/2022/09/wolf-moneyboustead-projectslong-post.html?m=1
BOUSTEAD PROJECTS AWARDED RECORD
DESIGN-AND-BUILD CONTRACT IN SINGAPORE
SINGAPORE, 18 JULY 2022
Boustead Projects Limited (?Boustead Projects?) ? a leading provider of innovative eco-sustainable real
estate solutions ? is pleased to announce that its wholly-owned Engineering & Construction (?E&C?)
subsidiary, Boustead Projects E&C Pte Ltd (?Boustead Projects E&C?), has been awarded a record
contract valued at approximately S$300 million by a Fortune 500 corporation to design and build an
integrated manufacturing, logistics and office facility in Singapore.
The project involves the design-and-build of a manufacturing facility, integrated with a logistics centre,
ancillary office and basement carpark, and is anticipated to be completed in calendar year 2024. The
facility is also being built to satisfy the requirements for Green Mark Platinum, the highest eco-
sustainable rating for a building under the Building & Construction Authority?s revised Green Mark
Certification Scheme 2021....
https://links.sgx.com/1.0.0/corporate-announcements/M1OAS5YPYBC4X7AD/723918_BP-Announcement_Boustead-Projects-Awarded-Record-Design-and-Build-Contract-in-Singapore-18.07.2022.pdf
DESIGN-AND-BUILD CONTRACT IN SINGAPORE
SINGAPORE, 18 JULY 2022
Boustead Projects Limited (?Boustead Projects?) ? a leading provider of innovative eco-sustainable real
estate solutions ? is pleased to announce that its wholly-owned Engineering & Construction (?E&C?)
subsidiary, Boustead Projects E&C Pte Ltd (?Boustead Projects E&C?), has been awarded a record
contract valued at approximately S$300 million by a Fortune 500 corporation to design and build an
integrated manufacturing, logistics and office facility in Singapore.
The project involves the design-and-build of a manufacturing facility, integrated with a logistics centre,
ancillary office and basement carpark, and is anticipated to be completed in calendar year 2024. The
facility is also being built to satisfy the requirements for Green Mark Platinum, the highest eco-
sustainable rating for a building under the Building & Construction Authority?s revised Green Mark
Certification Scheme 2021....
https://links.sgx.com/1.0.0/corporate-announcements/M1OAS5YPYBC4X7AD/723918_BP-Announcement_Boustead-Projects-Awarded-Record-Design-and-Build-Contract-in-Singapore-18.07.2022.pdf
Boustead Projects acquires Bideford Road property at S$515m, below valuation
BOUSTEAD Projects : AVM -0.54% has acquired an 18-storey freehold luxury mixed-used development along 28 and 30 Bideford Road through its 50 per cent-owned joint venture of the group&rsquo s wholly-owned subsidiary, BP-Real Estate Investment.
While the property was independently valued by Savills at S$550 million as at Jun 20, it was acquired for a consideration of S$515 million excluding goods and services tax.
Boustead Projects intends to satisfy its subsidiary&rsquo s portion of the consideration by way of cash funded from the group&rsquo s internal resources.
The sale of 28 and 30 Bideford Road comes after a share charge was enforced from September 2021 in relation to S$110 million in notes due 2020. The notes were acquired by a Boustead Projects-led consortium in August 2021, and were secured by a charge over the shares of the property&rsquo s owner SC Aetas Holdings.
SC Aetas was subsequently placed under creditors&rsquo voluntary liquidation, and the property&rsquo s sale was initiated as part of the winding-up process.
Based on audited financial statements of SC Aetas as at end-2020, the property had a carrying value of S$605.4 million. The Business Times in December 2021 also reported that the property had been put up for sale at a S$600 million indicative price.
In its latest Friday (Jun 24) filing, Boustead Projects said it believes the acquisition will benefit the group&rsquo s real estate business, enable the company to expand and diversify its property portfolio, as well as increase its income streams.
The group expects the latest acquisition to have a material effect on its earnings per share for the current FY2023 ending Mar 31, 2023. This is not anticipated to materially affect the group&rsquo s net tangible assets per share over the same period.
Spanning a land area of about 2,006.9 square metres and a gross floor area of 14,637.9 square metres, the development at 28 and 30 Bideford Road obtained its Temporary Occupation Permit on Jan 10, 2020.
The development comprises targeted hospitality, healthcare and commercial components. It was designed by Japanese architectural firm Nikken Sekkei and is earmarked to attain BCA (Building and Construction Authority) Green Mark Platinum certification.
Boustead Projects FY2022 earnings fall 91% on absence of one-off gain
REAL-estate solutions provider Boustead Projects : AVM +0.54% reported a 91 per cent fall in earnings to S$11.3 million for FY 2022 ending Mar 31, down from S$131.7 million the year before, as a result of the absence of a one-off gain.
The board of directors, upon the release of the company&rsquo s earnings results after market close on Wednesday (May 29), are proposing a final dividend of S$0.002 cents per share and a special dividend of S$0.008 cents per share, subject to shareholders&rsquo approval.
At the end of FY2021, the company had sold its interest in 14 properties to Boustead Industrial Fund (BIF), netting a one-off gain of S$134.8 million. The absence of this one-off gain would have resulted in a loss of S$3.2 million for FY2021.
Thomas Chu, managing director of Boustead Projects, said: &ldquo Having worked through several large projects secured pre-pandemic with little margin for error, we are expecting to exit from the pre-pandemic backlog and be poised for a gradual recovery.&rdquo
Revenue grew 13 per cent year on year to S$339.1 million from S$301.4 million on higher recognition on engineering and construction (E& C) projects in H1 FY2022 ending Sept 30. Total other income for FY2022 was 115 per cent higher at S$7.2 million from S$3.5 million, due to interest income derived from notes issued by BIF.
Wong Yu wei, executive deputy chairman of Boustead Projects, said: &ldquo We are increasingly building up our recurring income streams with successful execution of asset ownership, asset management and fund management, and look forward to our various real-estate platforms delivering growth, improving resilience and transforming our business to be less reliant on traditional E& C activities.&rdquo
Boustead Projects&rsquo FY2022 earnings per share fell to S$0.0036 from S$0.423 due to the absence of the one-off gain. Net asset value per share fell 8 per cent to S$1.253 from S$1.369.
The company&rsquo s order backlog stood at about S$253 million as of Mar 31, 2022, but Boustead Projects warns of margins for future E& C projects being under pressure. Rising labour costs, construction material and supply chain costs stemming from the economic and political environment, inflation and lingering effects of the pandemic continue to weigh on margins.
Wong said: &ldquo In view of the progress of the E& C Business, Real Estate Business and addition of full-fledged fund management activities, we expect to remain profitable for FY2023, barring unforeseen circumstances and further disruptions caused by the pandemic. We have built a stable foundation that offers multi-faceted resilience in Singapore and the region, and are well positioned to actively pursue multiple opportunities in the future.&rdquo
BOUSTEAD PROJECTS LIMITED (SGX:AVM)
UNAUDITED RESULTS FOR FINANCIAL YEAR ENDED 31 MAR 2022
FY2022 Highlights:
- For FY2022, overall revenue was 13% higher year-on-year at S$339.1 million, mainly
attributable to higher revenue recognition on Engineering & Construction (?E&C?) projects,
partially offset by a reduction in rental revenue from Real Estate.
- For FY2022, total profit was 91% lower year-on-year at S$11.3 million, in the absence of the
value-unlocking one-off gain of S$134.8 million (?BIF Value-Unlocking Gain?) that was
registered with the successful launch of Boustead Industrial Fund (?BIF?) at the end of FY2021.
Adjusting for the BIF Value-Unlocking Gain, total profit for FY2022 compared favourably to the
total loss for FY2021 of S$3.2 million.
- At the end of FY2022, the Boustead Projects Group (?BP Group?)?s financial position remained
healthy, with cash and cash equivalents of S$213.9 million and total equity of S$392.4 million.
- The BP Group?s current order backlog (unrecognised project revenue remaining at the end of
FY2022 plus the total value of new orders secured since then) stands at a healthy level of
approximately S$235 million.
- The Board is proposing a final dividend of 0.2 cents per share and special dividend of 0.8 cents
per share, subject to shareholders? approval....
https://links.sgx.com/1.0.0/corporate-announcements/HAMQEG55NW897QPQ/718590_BP_Media%20Release_Boustead-Projects-FY2022-Financial-Results-Announcement-25.05.2022.pdf
UNAUDITED RESULTS FOR FINANCIAL YEAR ENDED 31 MAR 2022
FY2022 Highlights:
- For FY2022, overall revenue was 13% higher year-on-year at S$339.1 million, mainly
attributable to higher revenue recognition on Engineering & Construction (?E&C?) projects,
partially offset by a reduction in rental revenue from Real Estate.
- For FY2022, total profit was 91% lower year-on-year at S$11.3 million, in the absence of the
value-unlocking one-off gain of S$134.8 million (?BIF Value-Unlocking Gain?) that was
registered with the successful launch of Boustead Industrial Fund (?BIF?) at the end of FY2021.
Adjusting for the BIF Value-Unlocking Gain, total profit for FY2022 compared favourably to the
total loss for FY2021 of S$3.2 million.
- At the end of FY2022, the Boustead Projects Group (?BP Group?)?s financial position remained
healthy, with cash and cash equivalents of S$213.9 million and total equity of S$392.4 million.
- The BP Group?s current order backlog (unrecognised project revenue remaining at the end of
FY2022 plus the total value of new orders secured since then) stands at a healthy level of
approximately S$235 million.
- The Board is proposing a final dividend of 0.2 cents per share and special dividend of 0.8 cents
per share, subject to shareholders? approval....
https://links.sgx.com/1.0.0/corporate-announcements/HAMQEG55NW897QPQ/718590_BP_Media%20Release_Boustead-Projects-FY2022-Financial-Results-Announcement-25.05.2022.pdf
Boustead Projects consortium takes over share capital of Orchard Hills property owner
SC Aetas (Cayman), owner of the Orchard Hills/Orchard Hills Residences property, has failed to resume paying principal and interest on its S$110 million in defaulted mezzanine notes, and the consortium which acquired the notes has taken ownership the company' s share capital, Boustead Projects said Friday.In August, Boustead Projects' wholly owned subsidiary BP-Real Estate Investments, along with Roark Capital and Lim Teck Lee Investments, formed a consortium to acquire the defaulted notes for S$117 million, marking a discount to the principal and accrued default interest.
" While the consortium now holds 100 percent of the company' s capital, the proposed acquisition of the property is pursuant to any enforcement proceedings, or pursuant to an auction or bilateral sale process. It is intended that the parties within the consortium will hold interests in the property in proportion to their holdings of the notes," Janet Chia, manager for corporate marketing and investor relations at Boustead Projects, told Shenton Wire via email on Friday.
BP-Real Estate Investments acquired 50 percent of the notes, while Roark Capital and Lim Teck Lee Investments, which are both investment holding companies of private investors unrelated to Boustead Projects, purchased 25 percent each.
SC Aetas (Cayman) owns the property at 30 Bideford Road, Singapore, known as Orchard Hills/Orchard Hills Residences, which has an 18-storey mixed-use development including hospitality, healthcare and commercial areas.
Based on an audit of SC Aetas (Cayman)' s financial statements for 2020, the property' s carrying value is S$605.36 million, Boustead Projects said Friday in a filing to SGX. That compares with Boustead Projects' August statement that the carrying value was at S$720.19 million. In August, Boustead Projects said Orchard Hills was not losing money nor did it have a net liability position.
The notes were issued 30 July 2019, with a rate of 13 percent per annum, and had an original maturity date of 12 months, which was extended to end-November 2020, with the issuer able to redeem the notes at any time for 100 percent of the principal, Boustead Projects had said in August. But at the time, the notes were in default on payments of interest and principal, which, under the original terms, means the interest rate was to rise to 18 percent per annum.
Will it hit above $1.3 still? Take it or leave it. 😥
Why is BJ retreating on AGM release?
Just for my learning purpose, can anyone enlighten?
1. Is there anything wrong with the Q& A released?
2. EGM related?
3. CD related?
Just for my learning purpose, can anyone enlighten?
1. Is there anything wrong with the Q& A released?
2. EGM related?
3. CD related?
God knows lah....haha
If it can reach 1.40+, I' m happy already
If it can reach 1.40+, I' m happy already
rickylem ( Date: 17-Jul-2021 02:58) Posted:
|
will it hit 1.5 before ex date ?
ICXGOLD ( Date: 01-Jul-2021 14:14) Posted:
|
It will drop by the amount of dividend paid = 15 cents
tanstg ( Date: 01-Jul-2021 08:11) Posted:
|
Can any expert advise how much will BP correct itself after exDiv on 5 Aug 21?
Look like some correction coming?
https://www.theedgesingapore.com/capital/brokers-calls/boustead-projects%E2%80%99-investment-vietnam-property-fund-step-towards-next-leg
Boustead Projects&rsquo investment in Vietnam property fund is a step towards next leg of growth: CGS-CIMB
Atiqah Mokhtar Published on Thu, Jun 03, 2021
To that end, his &lsquo add&rsquo rating and ex-dividend target price of $1.40
cheers
To that end, his &lsquo add&rsquo rating and ex-dividend target price of $1.40
cheers
Today mother stronger. BP close flat