SINGAPORE (July 6): Starburst, the engineering group specialising in firearms-training facilities says it has been awarded a $13.1 million contract for upgrading a tactical training mock-up facility in Southeast Asia.
Dated June 30, and signed on July 6, the contract was signed by Starburst’s wholly-owned subsidiary, Starburst Engineering.
Under the agreement, Starburst Engineering will design, supply and install ballistic protection works for a tactical training mock-up facility in Southeast Asia.
Work will begin this month, and is scheduled to be completed by July 2021. According to Starburst, the contract will be carried out over FY20 and FY21 and is expected to a have a positive impact on the company’s net tangible assets (NTA) and earnings per share (EPS) for the financial year ended December 31.
Shares in Starburst closed flat at 38 cents on Monday, prior to the announcement.
