Singapore Shooting-Range Maker’s Stock Doubles on Mideast - Bloomberg:
"Starburst Holdings Ltd. (STARB), a Singaporean builder of shooting ranges, expects revenue to rise fivefold as Middle East defense spending surges following the Arab Spring uprisings.
The company is pursuing as many as six contracts to provide firearms-training facilities to countries including the United Arab Emirates, Executive Chairman Edward Lim said. Projects in the region may drive sales in five to six years to S$100 million ($80 million) from S$21 million in 2013, he said. Starburst is Singapore’s best-performing stock since listing shares on July 10, soaring 139 percent as of the last close. The benchmark Straits Times Index rose 1.5 percent in that span.
“After the Arab Spring, countries in the Middle East are starting the implementation of compulsory military services,” Lim said in an interview on Aug. 21. “They need to build new shooting ranges to accommodate the increase in the military personnel.”"
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