Declassified LCS report: BNS will have problems servicing loans totalling RM956mil

PETALING JAYA: The main contractor behind the littoral combat ship (LCS) project, Boustead Naval Shipyard (BNS), is expected to face serious issues servicing loans of RM956mil due to poor financial management and cash flow issues.

The declassified report on the LCS project mentioned that up till May 31, 2019, BNS had loans amounting to RM956.86mil, comprising RM354.96mil in short-term and RM601.90mil in long-term debts.