KUALA LUMPUR: Boustead Heavy Industries Corp Bhd’s (BHIC) wholly-owned subsidiary, BHIC Submarine Engineering Services Sdn Bhd (BSES), has bagged from the defence ministry the Royal Malaysian Navy’s prime minister-class submarines contract worth RM43.60 million.
In a filing with Bursa Malaysia, BHIC said the contract entails the expansion of the scope of work and additional contract ceiling price for the in-service support for the RMN submarines.
“A formal contract between the government and BSES will be finalised and executed at a later date,” it said.
The contract will contribute positively to the earnings of the BHIC Group for the financial year ending Dec 31, 2024.