General Announcement for PLC
16/06/2020OTHERS BOUSTEAD HEAVY INDUSTRIES CORPORATION BERHAD ("BHIC" OR "THE COMPANY") - RECEIPT OF A LETTER OF ACCEPTANCE FROM THE MINISTRY OF DEFENCE MALAYSIA FOR THE PROVISION OF IN-SERVICE SUPPORT FOR PRIME MINISTER'S CLASS SUBMARINES
BOUSTEAD HEAVY INDUSTRIES CORPORATION BHD |
Type | Announcement |
Subject | OTHERS |
Description | BOUSTEAD HEAVY INDUSTRIES CORPORATION BERHAD ("BHIC" OR "THE COMPANY") - RECEIPT OF A LETTER OF ACCEPTANCE FROM THE MINISTRY OF DEFENCE MALAYSIA FOR THE PROVISION OF IN-SERVICE SUPPORT FOR PRIME MINISTER'S CLASS SUBMARINES |
The Company wishes to announce that Boustead DCNS Naval Corporation Sdn. Bhd. (BDNC) had accepted a letter from the Ministry of Defence Malaysia (MINDEF) on 16 June 2020, awarding BDNC a contract for provision of In-Service Support for Prime Minister’s Class Submarines for the Royal Malaysian Navy (Contract). This Contract is for a period of one year starting 1 January 2020 at a contract value of RM154.3 million. A formal contract between MINDEF and BDNC will be signed at a later date. BDNC is a joint venture company between BHIC Defence Technologies Sdn. Bhd. (60%), a wholly owned subsidiary of BHIC, and Naval Group (40%). The Contract will contribute positively to BHIC Group’s current year earnings. None of the directors or substantial shareholders of the Company, or persons connected with them, has any interest, direct or indirect, in the Contract.
This announcement is dated 16 June 2020. |
Announcement Info
Company Name | BOUSTEAD HEAVY INDUSTRIES CORPORATION BHD |
Stock Name | BHIC |
Date Announced | 16 Jun 2020 |
Category | General Announcement for PLC |
Reference Number | GA1-09062020-00150 |