Boustead Naval Shipyard Sdn Bhd a subsidiary of Boustead Holdings Berhad which had signed an RM9 billion contract with the Ministry of Defence to deliver six units of Second Generation Patrol Vessels with Littoral Combat Ship capability for the Royal Malaysian Navy has now signed a supplementary contract well.
BNS and MoD supplementary contract is to remobilise the Project, amongst others, to resume payment to creditors (Original Equipment Manufacturers, vendors, and financial institutions). Apart from the activities to be undertaken by BNS towards remobilising the Project, there are no significant differences between the substance of the Contract and the Supplementary Contract.
The long outstanding project will be taking steps to resume after much corruption controversy and delivery delays.
