SHAH ALAM: How much do you pay for a money losing shipyard? In the case of the Lumut Naval Shipyard Sdn Bhd (Lunas), a MOF-owned company – Ocean Sunshine Bhd (OSB) or Malaysian taxpayers – is paying RM334.73 million in cash for that privilege of owning just 20 per cent […]
SHAH ALAM: Lembaga Tabung Angkatan Tentera (LTAT) – the Armed Forces Fund Board – has appointed former Chief of Defence Force TS Azizan Ariffin as its new chairman and Mohammad Ashraf Md Radzi as its new chief executive, effective on April 1. LTAT made the announcement today. Ashraf – who […]
SHAH ALAM: The Auditor General published its findings of government agencies for the year 2022 and the Armed Forces Fund Board (LTAT) has again hog the lime light, for the wrong reasons. The Edge is reporting that LTAT has consistently reported negative reserve balance since 2020. Apart from this the […]
SHAH ALAM: The Defence Ministry has appointed LTAT chief financial officer, Mohamad Ashraf Md Radzi, as the acting CEO of the Armed Forces Provident Fund, with immediate effect. Defence Minister DS Khaled Nordin told Parliament today that the ministry’s secretary general, DS Isham Ishak, has also been appointed as the […]
SHAH ALAM: Lembaga Tabung Angkatan Tentera (LTAT) – the Armed Forces Fund Board – is left leaderless after its chairman TS Raja Mohamed Affandi Raja Mohamed retired yesterday. LTAT issued a statement that he had retired. His retirement came a week after the resignation of the CEO Ahmad Nazim Abd […]
SHAH ALAM: Boustead Naval Shipyard (BNS) nationalisation has been delayed again, for the fourth time. Malaysian Defence has expected this as the third deadline for the exercise – BNS being sold to a MOF Incorporated company, Ocean Sunshine Bhd – was on December 31. Boustead Heavy Industries Corporation Bhd (BHIC) […]
SHAH ALAM: Boustead Heavy Engineering Corporation Bhd (BHIC) is scheduled to hold an extraordinary general meeting this Friday. Among others the public listed company shareholders will vote the proposed disposal of Boustead Naval Shipyard (BNS) to MOF Incorporated company, Ocean Sunshine Bhd (OSB). The resolutions are likely to be passed […]
SHAH ALAM: The nationalisation of Boustead Naval Shipyard (BNS) has been delayed yet again. Last month, Boustead Heavy Industries Bhd (BHIC) announced that the deal with the Ministry of Finance Inc. will be delayed. BHIC on November 1 said that the parties “require additional time for the fulfilment of the […]
SHAH ALAM: Former Defence Minister and Tanah Merah MP DS Ikmal Hisham Abdul Aziz spoke at length on the LCS at Dewan Rakyat on Thursday (October 19). His biggest issue with the LCS project is the fact that Boustead Naval Shipyard (BNS) was still entrusted with the job of completing […]
SHAH ALAML Earlier this week, Defence Minister DSU Mohamad Hasan told Parliament that the first LCS – PCU Maharaja Lela – will be delayed by a few months due to the ongoing process of nationalisation of the builder, Boustead Naval Shipyards (BNS). His deputy – Adly Zahari – on Thursday […]
Malaysian Defence
