PETALING JAYA: Boustead Holdings Bhd had to take over debt-laden PSC Industries Bhd (PSCI) after the privatisation of the construction of Navy ships had failed, says Armed Forces Fund Board (LTAT) chief executive officer Datuk Ahmad Nazim Abdul Rahman.
He also said the construction of the vessels stipulated in the now controversial Littoral Combat Ship (LCS) project was in fact ongoing.
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