Boustead unit bags RM43.6mil submarine contract from Mindef

 

BHIC Submarine Engineering Services Sdn Bhd’s contract entails the expansion of the scope of work and additional contract ceiling price for the in-service support for the navy submarines. (Bernama pic)

KUALA LUMPUR: Boustead Heavy Industries Corp Bhd’s (BHIC) wholly-owned subsidiary, BHIC Submarine Engineering Services Sdn Bhd (BSES), has bagged from the defence ministry the Royal Malaysian Navy’s prime minister-class submarines contract worth RM43.60 million.

In a filing with Bursa Malaysia, BHIC said the contract entails the expansion of the scope of work and additional contract ceiling price for the in-service support for the RMN submarines.

“A formal contract between the government and BSES will be finalised and executed at a later date,” it said.

The contract will contribute positively to the earnings of the BHIC Group for the financial year ending Dec 31, 2024. - FMT