PETALING JAYA: Twelve letter of awards (LOA) worth RM3.3bil was issued to Contraves Advanced Devices Sdn Bhd (CAD) and its wholly owned subsidiary Contraves Electrodynamics Sdn Bhd (CED), according to the latest declassified Forensic Audit report on the littoral combat ships (LCS).
The 12 LOAs that totalled RM3.3bil that was issued by Boustead Heavy Industries Corp (BHIC), the 51% partner in CAD and CED, and it made up of approximately 37% of the total contract value of the LCS that’s worth RM9bil.
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