Boustead DCNS a joint venture company between BHIC Defence Technologies Sdn. Bhd. (60%), a wholly owned subsidiary of BHIC, and Naval Group (40%) has accepted an Additional Letter of Acceptance from MINDEF for another extension of the Contract period for nine months, starting The contract value for the extension is of RM79 million.
The extension is in reference to the company’s earlier announcement in relation to the acceptance of a Letter of Acceptances from MINDEF awarding Boustead DCNS Naval Corporation Sdn. Bhd. (BDNC) a contract for provision of the In-Service Support for Prime Minister’s Class Submarines for the Royal Malaysian Navy.
The Additional LOA will contribute positively to the earnings of BHIC Group for the financial year ending 31 December 2022. None of the directors or substantial shareholders of the Company, or persons connected with them have any interest, direct or indirect, in the Contract and the Additional LOA.
