Boustead Naval formalises ship deal
Shipbuilder Boustead Industries Corp Bhd (BHIC)’s unit yesterday formalised a RM703.8 million contract to extend the service lives of two Royal Malaysian Navy ships.
The contract, awarded by the Ministry of Defence to Boustead Naval Shipyard Sdn Bhd earlier in August, is for 53 months and involves two Kasturi class corvettes.
BHIC, in a stock exchange filing, said the contract will have no impact on the group’s earnings this year, but would contribute positively to future earnings.
Its shares rose by 3.9 per cent to RM4.82 yesterday, the highest close in a month.
Industries Corp Bhd (BHIC)’s unit yesterday formalised a RM703.8 million contract to extend the service lives of two Royal Malaysian Navy ships.
The contract, awarded by the Ministry of Defence to Boustead Naval Shipyard Sdn Bhd earlier in August, is for 53 months and involves two Kasturi class corvettes.
BHIC, in a stock exchange filing, said the contract will have no impact on the group’s earnings this year, but would contribute positively to future earnings.
Its shares rose by 3.9 per cent to RM4.82 yesterday, the highest close in a month.
Source: Business Times
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