Defence Contract

LCS Cost Is Higher

SHAH ALAM: IN the previous post on the nationalisation of Boustead Naval Shipyard (BNS), Malaysian Defence speculated that the cost of the project is now RM12.4 billion. This is because Ocean Sunshine Bhd (OSB) – the government owned company set up to take over BNS will be paying the BHIC […]

Defence Contract

Boustead’s BNS Stake Sold For RM1

SHAH ALAM: Boustead Heavy Industries Corporation Bhd (BHIC), the heavy industry arm of Boustead Holdings Bhd, is selling its entire stake in Boustead Naval Shipyard Sdn Bhd (BNS) – the builder of the LCS – for RM1 – to Ocean Sunshine Bhd (OSB). OSB is an indirect unit of Minister […]

Defence Contract

LCS Now Costs RM11.2 Billion, Updated

LANGKAWI: The cost for the five-ship LCS project has been bumped up for around RM2 billion more. The figure was released by Boustead Heavy Industries Corporation Sdn Bhd (BHIC) in a Bursa Malaysia announcement today (May 26). The cost for the five ships is now RM11.2 billion compared to RM9.1 […]

Defence Contract

BHIC Awarded Submarine Support Contracts

SHAH ALAM: Boustead Heavy Engineering Corporation (BHIC) announced today that it has been awarded two contracts with a combined value of RM140.06 million from the Defence Ministry. According to its filing with Bursa Malaysia, its wholly owned subsidiary, BHIC Submarine Engineering Services Sdn Bhd (BSES) was awarded the two separate […]

Defence Contract

Never Ending Story Part 2

SHAH ALAM: For the third day running (April 4 to 6), Dewan Negara debated on Defence Ministry issues. And for the second day running (April 5 to 6), it was about the LCS project. Defence Minister DSU Mohamad Hasan was in parliament yesterday to answer questions from the senators. It […]

defence Industry

BHIC Appoints New CE0

SHAH ALAM: Boustead Heavy Industries Corp Bhd (BHIC) has appointed Feroz Razi Ramli, 45 as its new chief executive officer. Feroze replaces Sharifuddin Zaini Al-Manaf, 53, who completed his tenure as CEO after holding the post since April 1, 2020, the group said in a bourse filing on March 31. […]

Defence Contract

More Details on BNS/BHIC Legal Woes

SHAH ALAM: More details on BNS/BHIC legal woes. As part of its annual report, Boustead Heavy Industries Corporation Bhd, the publicly listed engineering subsidiary of Boustead Holdings Bhd, published the legal actions taken against the company for its shipbuilding activities. The shipbuilding activities is undertaken by its associate company, Boustead […]

Kementerian Pertahanan

LTAT To Privatise Boustead Holdings

SHAH ALAM: Lembaga Tabung Angkatan Tentera – the Armed Forces Provident Fund (LTAT) is doubling down on Boustead Holdings Bhd, by offering to take the listed company private. LTAT in a statement said the offer will allow it greater flexibility to implement the turnaround plan for Boustead. The statement: NOTICE […]

Defence Contract

All Ahead, LCS

SHAH ALAM: All ahead, LCS. It appears that the RMN is preparing for the resumption of the LCS project. Yesterday, it announced First Admiral Franklin Jeyasekhar Joseff assumed command of the LCS project team from Captain Abdul Jamal Mohd Nasir. From RMN: Majlis Serah Terima Tugas Ketua Pengarah Projek Littoral […]

Defence Contract

BHIC, BNS and Directors Sued

SHAH ALAM: BHIC, BNS and directors sued. Boustead Heavy Industries Corporation Bhd (BHIC) on October 4 announced to Bursa Malaysia that the company; subsidiary BHIC Defence Technologies Sdn Bh; its associate company, Boustead Naval Shipyard and two of its directors have been sued. The announcement: The Board of Directors (“Board”) […]