GEORGE TOWN: Boustead Holdings Bhd (BHB) is targeting to increase group revenue from approximately RM12bil currently to RM30bil within the next five years through a business restructuring that focuses on defence, property development and commercial services.
BHB group managing director Datuk Ahmad Sabirin Arshad said the conglomerate company, which started as an agricultural company with activities such as selling coconuts and warehousing, is undergoing a transformation by targeting at least 30% local content in the development of national defence industry technology products by 2030.
He said BHB plans to develop about 400 vendors in the defence industry ecosystem, thus creating a new industry that could generate wealth for the country.
“We have been given a new focus by shareholders and the Defence Ministry, in line with the National Defence Industry Policy launched last January, to focus on three main areas – defence, property development and commercial services.
“We want to ensure that Malaysia is ready and capable to assist the government in defence, although the country has always prioritised peace,” he told reporters after attending the soft launch of Boustead 200-Year Journey yesterday. Boustead celebrates its bicentennial in 2028.
Ahmad Sabirin said BHB was also given the responsibility to lead four national defence projects announced by the government – satellite development, rolling chassis for armoured vehicles, light weapons production and the development of the Combat Management System. — Bernama
