Boustead unit wins RM96mil job

In its filings, the diversified Boustead group said its subsidiary, Boustead Naval Shipyard Sdn Bhd (BNS), would undertake the works for the military vessel KD Terengganu.

PETALING JAYA: Boustead Holdings Bhd’s unit has won a contract worth RM95.99mil for vessel refit works from the Defence Ministry.

In its filings, the diversified group said its subsidiary, Boustead Naval Shipyard Sdn Bhd (BNS), would undertake the works for the military vessel KD Terengganu.

It added that a formal contract between the government and BNS would be signed at a later date.

Boustead said the contract was expected to contribute positively to its current and future earnings.

Meanwhile, Boustead Heavy Industries Corp Bhd said the contract win by BNS, its associate company, was also expected to contribute positively to its current and future earnings.

Boustead’s shares closed half sen higher at RM1 yesterday, while Boustead Heavy’s shares fell seven sen to RM1.19.