PETALING JAYA: Boustead Naval Shipyard (BNS), the company embroiled in the Littoral Combat Ships (LCS) scandal, was in bad financial shape, running up losses amounting to RM462mil between 2014 and 2018.
This led to payments to the original equipment manufacturer (OEM) and suppliers of the LCS project to be delayed, according to a report that was declassified yesterday.
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