We refer to the announcements made on 13 October 2016, 14 February 2017 and 4 July 2019 with regard to the  contract entered between Kementerian Dalam Negeri Malaysia 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”). 

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 on 30 June 2020 accepted a letter from Kementerian Dalam Negeri Malaysia for the extension of Contract period for another one (1) year, effective from 1 July 2020 (“the Extended LOA”). The Contract is now for a period from 1 July 2016 to 30 June 2021 with a new total ceiling contract value of RM70,741,825.64.

Apart from the extension of the Contract period and revision of Contract value, 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 2020 and 31 December 2021.

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 1 July 2020.