A unit of Boustead Heavy Industries Corporation Bhd (BHIC) will provide in-service support for the Royal Malaysian Navy’s submarines this year for RM154.3 mil, the company said in a Bursa Malaysia filing today.
Its subsidiary, Boustead DCNS Naval Corporation Sdn Bhd (BDNC), which won the Ministry of Defence contract, is a joint venture – BHIC Defence Technology Sdn Bhd, a wholly-owned subsidiary of BHIC, holding a 60% stake and 40% held by the NavalGroup.
BHIC shares closed today 3 sen or 4.4% higher at 71 sen with 152,000 shares traded. – June 16, 2020
