Boustead Heavy Industries gets contract extension from Defence Ministry

PETALING JAYA: Boustead Heavy Industries Corp Bhd (BHIC) has been awarded a contract extension worth RM3.5mil from the Ministry of Defence Malaysia for the upkeep of the Royal Malaysian Navy’s submarine facilities.

In a filing with Bursa Malaysia, BHIC said the initial contract period was for 45 days from Jan 1, 2024 until Feb 14, 2024.

BHIC said a formal contract with the Malaysian Government will be finalised and executed at a later date.

"The contract will contribute positively to the earnings of the BHIC Group for the financial year ending 31 December 2024," it said.