Boustead Heavy Industries Corporation Bhd wholly owned subsidiary, BHIC Defence Technologies Sdn Bhd has agreed to acquire a 30% stake in BHIC Aeroservices Sdn Bhd (BHICAS) for RM8 million cash.
BHIC said BHICDT entered into a conditional share sale agreement with Prestige Pillar Sdn Bhd (PPSB) on 11 August 2026 for the acquisition of 600,000 ordinary shares in BHICAS.
The transaction will increase BHIC’s indirect equity interest in BHICAS from 51% to 81%, with the remaining 19% stake continuing to be held by Airbus Helicopters Malaysia Sdn Bhd (AHMSB).
BHICAS is principally involved in maintenance, repair and overhaul (MRO) services for rotary aircraft, forming part of BHIC’s broader aerospace and defence business.
The company said the acquisition would increase the BHIC Group’s attributable share of BHICAS’ earnings and its economic interest in the company’s future cash-generating capacity.
BHIC said the proposed acquisition is also aligned with its strategy of consolidating its interests and streamlining the ownership structure of key operating businesses.
By acquiring PPSB’s 30% stake, BHICDT will gain greater control over BHICAS while simplifying its governance and decision-making structure.
At the same time, AHMSB will remain a 19% shareholder, allowing BHICAS to retain its strategic relationship with Airbus Helicopters.
BHIC said AHMSB would continue to provide original equipment manufacturer support, technical expertise and access to Airbus Helicopters’ global MRO network.
The acquisition also supports the group’s efforts to expand local defence industry capabilities in line with the Dasar Industri Pertahanan Negara (DIPN), particularly in the maintenance, repair and overhaul segment.
BHICAS was incorporated in Malaysia in 1994 and was formerly known as PSC-Crane Systems Sdn Bhd.
Prior to the establishment of the joint venture, the company was a dormant wholly owned subsidiary of BHICDT.
Under a joint venture agreement entered into in June 2010, BHICAS’ share capital was increased to RM2 million, comprising 2 million shares. BHICDT currently holds 51%, PPSB 30% and AHMSB the remaining 19%.
Following completion of the proposed acquisition, BHICDT will hold 81% of BHICAS, while AHMSB will retain its 19% interest.
BHIC said the proposed acquisition is not a related-party transaction under Bursa Malaysia’s Main Market Listing Requirements.
The transaction is also not expected to result in BHIC being classified as a cash company, a listed issuer with an inadequate level of operations or a Practice Note 17 issuer.
