General Announcement for PLC
04/07/2019OTHERS RECEIPT OF A LETTER FOR THE EXTENSION OF CONTRACT DURATION FOR THE PROVISION OF INTEGRATED MAINTENANCE AND LOGISTIC SUPPORT SERVICES FOR THE MALAYSIAN MARITIME ENFORCEMENT AGENCY ("MMEA") BY BHIC AEROSERVICES SDN BHD ("BHICAS")
BOUSTEAD HEAVY INDUSTRIES CORPORATION BHD |
Type | Announcement |
Subject | OTHERS |
Description | RECEIPT OF A LETTER FOR THE EXTENSION OF CONTRACT DURATION FOR THE PROVISION OF INTEGRATED MAINTENANCE AND LOGISTIC SUPPORT SERVICES FOR THE MALAYSIAN MARITIME ENFORCEMENT AGENCY ("MMEA") BY BHIC AEROSERVICES SDN BHD ("BHICAS") |
We refer to the announcements made on 13 October 2016 and 14 February 2017 with regard to the contract entered between the Government of Malaysia (“the Government”) and BHICAS in relation to the provision of Integrated Maintenance and Logistic Support Services for three (3) units of Malaysian Maritime Enforcement Agency Dauphin AS365N3 helicopters ("the Contract). The existing Contract was for a period of two (2) years and nine (9) months effective from 1 October 2016 to 30 June 2019 at a contract value of RM62,582,060.80.
BHICAS is a joint venture between BHIC Defence Technologies Sdn Bhd (51 percent), Prestige Pillar Sdn Bhd (30 percent) and Airbus Helicopters Malaysia Sdn Bhd (19 percent).
The Company wishes to announce that BHICAS has received and accepted the letter from Kementerian Dalam Negeri on behalf of the Government for the purpose of extending the Contract period for another one (1) year, effective from 1 July 2019 (“the Extended LOA”). There is no change to the consideration under the letter.
Apart from the extension of the Contract period, there are no significant differences between the substance of the Contract and the Extended LOA.
The LOA will contribute positively to the earnings of BHIC Group for the financial year ending 31 December 2019 and 31 December 2020.
None of the directors or substantial shareholders of the Company, or persons connected with them have any interest, direct or indirect, in the Contract.
This announcement is dated 4 July 2019.
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Announcement Info
Company Name | BOUSTEAD HEAVY INDUSTRIES CORPORATION BHD |
Stock Name | BHIC |
Date Announced | 04 Jul 2019 |
Category | General Announcement for PLC |
Reference Number | GA1-04072019-00046 |