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SINGAPORE : Engineering services and infrastructure company Boustead is eyeing expansion opportunities in Indonesia, Libya and South America.
It believes the growing resources markets there will boost demand for its infrastructure services.
Boustead's chairman revealed this in an interview with Channel NewsAsia, as the company celebrates 180 years of business in Singapore.
Infrastructure services are likely to be in high demand, thanks to a boom in the global resources industry. Boustead believes there is good business to be made.
Wong Fong Fui, Chairman and CEO, Boustead Singapore, said: "You need to put in infrastructure in order to extract such resources. And they can pay. As you know, the resources boom has been going on for quite a while, and it should be continuing to do pretty well in the foreseeable future."
Boustead said the future seems bright in South America, Indonesia and the Middle East, which are rich in resources.
Last month, the company won a US$175 million contract to build a major water infrastructure system in Libya.
It is now armed with a war chest of some S$150 million for further investments.
While fluctuations in commodity prices are to be expected, Boustead said it is confident that prices will remain high enough to sustain commodity-related industries. And this could have a positive impact on demand for its infrastructure services.
Mr Wong said: "The demand in China and India or even the formerly Socialist countries, they were not consuming that much resources early on... the demand and supply equation has shifted, so I suspect the demand will continue."
On Friday, Boustead celebrated its 180th anniversary. The event was attended by Senior Minister Goh Chok Tong and the company's business partners. - CNA/ms
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