Boustead in revamp deals

Mou signing ceremony yesterday between Boustead holdings and next Generation Oil Sdn Bhd. From left Izadden Daud (BHB), Dato Seri Mohammed Shazalli Ramly (BHB), Dato Indera Mohamed Moiz (NGO) and Peter Kim Jaehoon (NGO) - S.S. Kanesan/The star

PETALING JAYA: Boustead Holdings Bhd made a slew of announcements yesterday ranging from a venture into planting and extracting algae oil to the disposal of a parcel of land located along Jalan Cochrane and the resignation of one of its board members.

Yesterday, the loss-making conglomerate announced its venture into algae oil that would see Boustead partnering with Next Generation Oil Sdn Bhd for the development of large-scale algae plantations to meet the increasing global demand for biofuels.