Defence Contract

Further Delays to First LCS

SHAH ALAM: The delay in nationalisation of Boustead Naval Shipyard (BNS) is also causing a delay in resumption of work for the first LCS – PCU Maharaja Lela. Confirming this today in a press conference in Parliament, Defence Minister DSU Mohamad Hasan said work on the first ship will only […]

Defence Contract

BNS Nationalisation Delayed

SHAH ALAM: The nationalisation of Boustead Naval Shipyard – the builder of the LCS – has been delayed for 30 more days or longer as the parties involved need more time to complete the deal. Boustead Heavy Industries Bhd (BHIC) announced the extension of the deal a day after the […]

Public Accounts Committee

PAC and Dewan Rakyat Speaker To Visit BNS

SHAH ALAM: The Public Accounts Committee (PAC) will hold an official work visit to Boustead Naval Shipyard (BNS) in Lumut, Perak with the Dewan Rakyat Speaker Tan Sri Johari Abdul on October 5. The visit was to check on the progress of the Second-Generation Patrol Vessel project or better known […]

Parliament

LCS Costs Is Higher, Part 2

SHAH ALAM: As promised earlier, posted below are the full transcript of the speech by Defence Minister DSU Mohamad Hasan on issues of his ministry at Parliament on September 18. Based on the transcript, there is no need to fix the earlier post. Mohamad in his speech spoke on various […]

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

Moving Ahead?

SHAH ALAM: Back in September 2022, it was reported that LTAT – the Armed Forces pensions fund – had signed an MOU with UAE-state owned arms conglomerate, the Edge Group, for collaboration in defence capabilities and solutions. The MOU signing was the highlight of the visit by the then Defence […]

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

More On LCS….The Never-Ending Story

SHAH ALAM: More on the LCS. It has become apparent that the LCS project is the actual never-ending story. Thanks to questions in Dewan Negara or Senate we now know more about the project. Deputy Defence Minister Adly Zahari answering the questions on the floor stated that since the government […]

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. […]

Auditor General Report

LTAT Thinking To Divest From Defence Business

SHAH ALAM: It appears as part of its privatisation exercise of Boustead Holdings, Lembaga Tabung Angkatan Tentera (LTAT) is looking at whether it is feasible to divest from the defence business, The Edge quoted LTAT CEO Nazim Abdul Rahman. He said as part of the LTAT transformation they will need […]