BHIC Secures Defence Contract, Malaysia

Boustead Heavy Industries Corp Bhd (BHIC) has been awarded a contract for the second generation patrol vessels by Boustead Naval Shipyard Sdn Bhd. BHIC’s subsidiary, Contraves Advanced Devices Sdn Bhd, will supply the torpedo- launching system for the Littoral Combat Ships programme under the contract.

In a statement to Bursa Malaysia, the maritime and defence solutions provider said it had via its unit Contraves Advanced Devices Sdn Bhd (CAD) received a Letter of Award (LOA) from Boustead Naval Shipyard Sdn Bhd (BNS). “The LOA awards to CAD contracts is to supply the Torpedo Launching System for the LCS Programme,” said BHIC, adding that other details are classified.

The contract is not expected to have a material impact on BHIC’s earnings for the financial year ending December 31.

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Press Release, November 14, 2013