BHIC to sell 20.8% stake in Lunas for RM335mil

KUALA LUMPUR: Boustead Heavy Industries Corp Bhd’s (BHIC) indirect wholly owned subsidiary, Perstim Industries Sdn Bhd, has proposed to dispose of 27,000,001 ordinary shares in Lumut Naval Shipyard Sdn Bhd (Lunas) to Ocean Sunshine Bhd (OSB) for RM334.73mil cash.

In a filing with Bursa Malaysia, BHIC said that the proposed disposal is designed to support the government’s decision to ensure the completion of the littoral combat ship or LCS project.

BHIC said this initiative is also a part of the company’s operational and organisational restructuring, aiming to streamline and realign entities within the company and its relevant subsidiaries.

It added that introducing a new strategic shareholder, OSB, aligned with Lunas’ plans to enhance its business and operations. — Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

BHIC , Lunas , LCS , GovernmentContract , OceanSunshineBhd


Next In Business News

Crest Builder unit bags RM486mil job
Axis-REIT shows improved quarterly performance
Vietnam apparel companies raise concerns over 2H production
Strong earnings expected for Ancom Nylex
PMIs improve even as weak yen intensifies price pressures
Optimistic outlook for Grade A premium offices
Medical tourism to bolster private hospital growth
Haily wins RM109.5mil contract
ASIAWATER 2024 set to chart course for water resilience
SERC has positive outlook on exports this year

Others Also Read