Boustead’s group managing director, Datuk Seri Mohammed Shazalli Ramly said: “Over the next few weeks, we will start unveiling our initiatives one-by-one to accelerate the reinvention of Boustead, and ultimately meet the expectations of our shareholders.” - File pic
PETALING JAYA: The Armed Forces Fund Board (LTAT) has dropped its plans to privatise its main investee company Boustead Holdings Bhd for the time being due to the challenging economic environment.
“We wish to inform that after a careful evaluation of various factors in implementing the proposal (proposed privatisation), in light of the prolonged challenging economic environment arising from the Covid-19 outbreak and the reimplementation of the movement control order, there has been heightened risks and increased uncertainties to successfully conclude this proposal, ” LTAT said in a press release yesterday.
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