For its FY2023 ended March 2023, the real estate business was its largest revenue contributor accounting for 50.6% of the total.
OCBC's Ada Lim, calling Boustead Singapore 'big, bold and beautiful', has on Sept 22 initiated coverage on this country's longest-operating company with a 'buy' call and accorded a $1.05 price target on this stock.
The company was founded in 1828 by Edward Boustead and has over the years, under chairman and group CEO Wong Fong Fui, evolved from the original engineering business to also real estate, geospatial systems and healthcare.
