SHAH ALAM: More details on BNS/BHIC legal woes. As part of its annual report, Boustead Heavy Industries Corporation Bhd, the publicly listed engineering subsidiary of Boustead Holdings Bhd, published the legal actions taken against the company for its shipbuilding activities. The shipbuilding activities is undertaken by its associate company, Boustead […]
SHAH ALAM: Lembaga Tabung Angkatan Tentera – the Armed Forces Provident Fund (LTAT) is doubling down on Boustead Holdings Bhd, by offering to take the listed company private. LTAT in a statement said the offer will allow it greater flexibility to implement the turnaround plan for Boustead. The statement: NOTICE […]
SHAH ALAM: Another Boustead company facing issues. Pharmaniaga Bhd, a listed company in Bursa Malaysia and a subsidiary of Boustead Holdings which in turn majority owned by Lembaga Angkatan Tentera Malaysia (LTAT) – the Armed Forces Provident Fund – reported losses for the 2022 fiscal year. This pushed the company […]
SHAH ALAM: In an earlier article, Malaysian Defence posted that the international settlement agreement has reached an impasse as the Defence Ministry was not keen on issuing a letter of indemnity to one of the parties involved. This was based on a report from the Edge. Based on the Parliament’s […]
SHAH ALAM: Despite the claims by Defence Minister DSU Mohamad Hasan that the first LCS will be completed by late next year, his latest statement in Parliament showed that it might not be the case. He told Parliament yesterday that a third party (likely one of the international companies involved) […]
SHAH ALAM: Posted below are the transcript of the statement made by Defence Minister DSU Mohamad Hasan in Parliament on February 20, 2023. For brevity, Malaysian Defence has omitted questions and other items during the normal Parliamentary proceeding. If you want the full exchange, please go to Parliament web site, […]
SHAH ALAM: The LCS project, it appears is still in purgatory, waiting for the final decision by the Cabinet. Defence Minister DSU Mohamad Hasan told Parliament today that work on the LCS will only start after two issues are resolve first. The two issues are the Cabinet memorandum and the […]
SHAH ALAM: Down to five LCS only. Newly appointed RMN chief Admiral Abdul Rahman Ayob said today that the government has only approved the completion of five LCS only. He was speaking to the media after giving his first message as the 18th RMN chief. “Originally we were supposed to […]
SHAH ALAM: The Defence Ministry today announced the cancellation of five contracts for supply, services, and infrastructure projects. It did not name the projects, costs, beneficiaries, and the reason for the cancellation. The ministry in a release said it took serious notice of the statement made by the Prime Minister […]
SHAH ALAM: All is well. Despite the confidence of the Defence Minister DSU Mohamad Hasan that the first LCS – Maharaja Lela – will be ready by late 2024, there are indications that it will not. The indications came from Mohamad himself, when he spoke to the media on January […]
Malaysian Defence
