Which subsidiary of BHIC secured the Ministry of Defence contract?

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BHIC Submarine Engineering Services Sdn Bhd Secured the Ministry of Defence Contract

BHIC Submarine Engineering Services Sdn Bhd (BSES), a wholly-owned subsidiary of Boustead Heavy Industries Corp Bhd (BHIC), has been awarded a contract by the Ministry of Defence (Mindef) Malaysia. This contract is valued at RM43.60 million and is intended for the Royal Malaysian Navy (RMN) Prime Minister Class Submarines.
Contract Details and Scope

The agreement with Mindef encompasses an expansion of the scope of work and an additional contract ceiling price specifically for the interim in-service support of the RMN submarines. BSES, as the designated entity, will be responsible for fulfilling these requirements.
Formalisation and Execution

While the award has been made, a formal contract is yet to be finalised and executed between the government and BSES. This will occur at a later date, signifying the completion of the contractual process.
Financial Impact for BHIC Group

This newly secured contract is projected to have a positive impact on the earnings of the BHIC Group. Specifically, it is expected to contribute positively to the group's financial performance for the fiscal year concluding on December 31, 2024.

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Which subsidiary of BHIC secured the Ministry of Defence contract?

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