Boustead Naval Shipyard Sdn Bhd (BNS), a subsidiary of BHB, received a contract from the Ministry of Defence Malaysia related to Royal Malaysian Navy’s 17th Patrol Vessel Squadron.
The contract is for the supply and delivery of spares, maintenance, Integrated Logistic Support and training for a contract period of three years.
Valued at RM96.3 million, approximately $26 million, the contract is scheduled to commence from March 19, 2015. The formal signing will take place at a later date.
This contract will not have a financial effect on BHB’s 2015 results, but it is expected to contribute positively to the future earnings of the BHB Group.
Naval Today Staff, Image: Ignacio Olivares Ortega/Wikimedia