Boustead Naval Shipyard Subsidiary Nabs $8m Contract

Boustead Naval Shipyard (BNS) today awarded an $8 million letter of award (LOA) to its subsidiary Boustead Atlas Hall (BAH).

The contract is for the design, purchase and construction of hangar for Panel/Block assembly activity and two vessel consolidations for BNS at Pangkalan TLDM, Lumut, Perak.

Both companies (BNS and BAH) are subsidiaries of Boustead Holdings Bhd in which BHB directly holds 68.85% in BNS and indirectly holds 51% equity interest in BAH.

Further detailed announcement will be made upon the execution of the formal contract between both parties within two weeks from the date of the LOA.

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Press Release, January 30, 2014