Boustead Heavy Industries Berhad announced that its subsidiary BHIC AeroServices Sdn. Bhd., being the company’s joint venture between BHIC Defence Technologies Sdn Bhd (51%) Prestige Pillar Sdn Bhd (30%) and Airbus Helicopters Malaysia Sdn Bhd (19%) has accepted the Letter of Award from the Ministry of Defence worth RM378 million.
The contract is for providing In-Service Support and Performance Based services for the Royal Malaysian Air Force EC725 Helicopters for a period of five years from the date of acceptance and signing of the LOA by BHICAS.
BHIC said a formal contract between the Government of Malaysia and BHICAS will be finalised and executed at a later date.
The group seed ths contract to contribute positively to the earnings of the BHIC Group for the financial years from 2024 to 2029.
