Boustead International Heaters Ltd Secures SGD 31 Million Contract and Strengthens OTSG Offering

Boustead Singapore Limited announced that its wholly-owned subsidiary, Boustead International Heaters Ltd. has secured a contract worth approximately SGD 31 million (the "Contract"). The Contract involves the design, engineering and supply of once through steam generators ("OTSGs") for a floating production, storage and offloading vessel to be deployed in Latin America. The award of this Contract rides on BIH's efforts to bolster its product offerings and enhance capabilities in OTSGs, a core part of BIH's strong track record in heat recovery systems including waste heat recovery systems for the global energy sector.

This is the second contract for OTSGs secured by BIH in the past year. The latest Contract has raised the Group's engineering order backlog to SD587 million (order backlog as stated in the fiscal year 2023 financial results announcement plus the value of the latest Contract).