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Monday, May 10, 2021

Boustead to reveal LCS revival plans upon official confirmation

Boustead Holdings Bhd (BHB) said it will reveal its plan on reviving the littoral combat ships (LCS) project once it receives the official confirmation on the government’s approval as announced recently.

In a filing with Bursa Malaysia today, BHB said it would make the necessary announcements in a timely manner to Bursa Malaysia should there be any material information, which fell under the Main Market Listing Requirements.

“Expressing gratitude to the government for the continued trust for it to complete the project which has been halted since 2019, BHB is unable to share further information,” it added.

On May 7, Defence Minister Ismail Sabri Yaakob said the government had agreed for the Boustead Group to continue with the LCS project, which has been delayed since 2019 with conditions to be complied with by the company.

Ismail Sabri said the continuation of the construction would save 1,600 workers comprising local people from losing their jobs and more than 400 vendors comprising Bumiputera small and medium enterprises.

Bernama

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