Boustead Projects Limited (‘BP’) is a leading industrial real estate solution provider listed on the SGX. It provides high-specifications industrial projects that are built to suit its clients’ needs on a turnkey basis. It is also the real estate business arm of mainboard-listed, engineering services group Boustead Singapore. By way of issuance of dividends in specie of BP shares from Boustead Singapore, BP IPO-ed on 30 April 2015 at 88 cents with ticker code SGX:AVM.  As at 21 June 2019, it has a market capitalisation of SGD$285 million. The business model of BP is plain and simple; it offers 2 types of services to its clients.

Diagram 1: Business model of Boustead Projects Limited

As seen its Diagram 1, BP offers (i) Design