SINGAPORE (May 18): Boustead Projects reported a 19% fall in FY18 earnings to S$29.2 million, which came on the back of a 12% fall in revenue to S$201.3 million.

For 4Q18, Boustead Projects registered quarterly revenue that was 50% higher year-on-year at S$57.6 million, due to higher revenue contributions from the design-and-build business.

Design-and-build revenue was 64% higher year-on-year at S$49.9 million, as there was greater revenue converted from contracts secured during FY18.

Leasing revenue was 4% lower year-on-year at S$7.8 million, mainly due to the lease expiry of 85 Tuas South Avenue 1 in January 2018 and lack of contribution from 36 Tuas Road due to AusGroup’s early lease termination in 4Q17, partially...(click on link for full story on theedgesingapore.com)