PETALING JAYA: Boustead Heavy Industries Corp Bhd (BHIC) announced that its 51%-owned joint venture has won a RM378 million in-service support and performance-based contract for the Royal Malaysian Air Force’s EC725 helicopters.
In a bourse filing today, BHIC, the shipbuilder arm of delisted Boustead Holdings Bhd, said BHIC AeroService Sdn Bhd (BHICAS) accepted a letter of award dated Aug 2 for the contract, issued by the defence ministry.
The contract is for a period of five years from the date of acceptance and signing of the letter of award by BHICAS.
“A formal contract between the government and BHICAS will be finalised and executed at a later date,” said BHIC.
The firm also said the contract will contribute positively to the earnings of the BHIC Group for the financial years 2024 to 2029.
“None of the directors or substantial shareholders of the company, or persons connected with them, have any interest, direct or indirect, in the contract,” it added.