PETALING JAYA: Boustead Holdings Bhd has embarked on a three-pronged strategy to strengthen its financial performance by leveraging on technology and digital push and venture into new business opportunities.
It said its “Reinventing Boustead” strategy was to maximise value creation by strengthening and improving the performance of the existing core businesses.
In a statement released after its virtual shareholders meeting, Boustead said the group is also introducing new business models for new revenue generations, as well as launching several strategic initiatives to identify and explore new opportunities for the group.
Under the three-pronged strategy, the first is a rejuvenated transformation programme (Rejuvenated EDG-20) for the core businesses driven by a new performance Improvement programme.
Second, it will explore and venture into new business opportunities and sustainability by embracing innovative and relevant technological services and third, it will adopt relevant and synergistic digital businesses to support the core businesses and to enhance new value creation for the future.
Boustead said its plan to expand its traditional brick-and-mortar businesses will be incubated through the newly established Boustead Technology Services (BTS) and Boustead Digital Services (BDS).
This would see BTS exploring technologies such as championing renewable energy, digitising defence solutions and Internet of Things and Unmanned Aerial Vehicle. As for BDS, it will focus on developing and enhancing digital solutions within the group’s ecosystem.