Boustead Shipyard Wins RM96mil Navy Contract for KD Terengganu

22 Juni 2019

KD Terengganu 174 - next generation patrol vessel (photo : TCMarine)

Boustead shipyard wins RM96mil Navy contract

PETALING JAYA: Boustead Holdings Bhd’s unit has won a contract worth RM95.99mil for vessel refit works from the Defence Ministry.

In its filings, the diversified group said its subsidiary, Boustead Naval Shipyard Sdn Bhd (BNS), would undertake the works for the military vessel KD Terengganu.

Kedah class NGPV (photo : MMP)

It added that a formal contract between the government and BNS would be signed at a later date.

Boustead said the contract was expected to contribute positively to its current and future earnings.

Meanwhile, Boustead Heavy Industries Corp Bhd said the contract win by BNS, its associate company, was also expected to contribute positively to its current and future earnings.

Boustead’s shares closed half sen higher at RM1 yesterday, while Boustead Heavy’s shares fell seven sen to RM1.19.

(The Star)