Boustead Secures Defence Contract Extension

Boustead Holdings Bhd received a contract extension for the supply and delivery of spare parts, maintenance services and training for the Royal Malaysian Navy’s 23rd Frigate Squadron.

The Company’s subsidiary, Boustead Naval Shipyard Sdn Bhd, received a Letter of Award on September 3, for a period of two years, until September 9, 2017. The remaining contract value is RM 43,4 million (USD 10 million).

To remind, BNS received the contract from the Ministry of Defence Malaysia in September 2012 at a contract value of RM 70 million (USD 16 million) for a period of three years.

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Image: Wikimedia