PETALING JAYA: The main contractor behind the littoral combat ship (LCS) project, Boustead Naval Shipyard (BNS), is expected to face serious issues servicing loans of RM956mil due to poor financial management and cash flow issues.
The declassified report on the LCS project mentioned that up till May 31, 2019, BNS had loans amounting to RM956.86mil, comprising RM354.96mil in short-term and RM601.90mil in long-term debts.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
