bullish

Boustead Singapore (SGX: F9D): Initiation Research (21 August 2026)

138 Views26 Aug 2026 11:31
SUMMARY
  • We believe Boustead Singapore has emerged with a much stronger balance sheet with the disposal of 21 properties into UI Boustead REIT, whilst maintaining a significant stake in the REIT.
  • We believe this would help smoothen the lumpy, one-off earnings that was seen in its engineering and real estate business units.
  • We believe the strong orderbooks that Boustead has secured would help drive its future earnings and cash generation, and hopefully better margins.
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  • Boustead Singapore (SGX: F9D): Initiation Research (21 August 2026)
    26 Aug 2026
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