SHAH ALAM: IT appears that Boustead Heavy Industry Corporation Bhd (BHIC) has not only sold off Boustead Naval Shipyard Sdn Bhd (BNS) to MOF Incorporated company, Ocean Sunshine Sdn Bhd, it has also divested the Boustead Langkawi Shipyard Sdn Bhd to the same entity. Now Lumut Naval Shipyard or Lunas has also taken over the Langkawi shipyard and had renamed her as the Lunas Langkawi Shipyard Sdn Bhd.
Lunas also took over the subsidiaries of the Langkawi shipyard, the ship repair and yachts business.
AFAIK, there was no mention at all that Ocean Sunshine will be taking over the Langkawi shipyard and it subsidiaries as well in previous announcements regarding the full privatisation of BNS.
The release from Lunas – its their press release in full, just be aware of the jargon and foot in the mouth celebratory note!
LUNAS Strengthens Maritime Portfolio by Renaming LUNAS Langkawi Shipyard from Boustead Langkawi Shipyard
February 9, 2024 – Lumut Naval Shipyard Sdn Bhd (LUNAS), a leading player in the Malaysian maritime and defence industries, is delighted to announce a significant milestone in its growth trajectory. Effective February 7, 2024, LUNAS’s wholly owned subsidiary, Boustead Langkawi Shipyard Sdn Bhd (BLS), has been successfully renamed to LUNAS Langkawi Shipyard Sdn Bhd in line with the parent company’s rebranding strategy. This strategic renaming solidifies LUNAS’s position in the maritime industry, marking LUNAS Langkawi Shipyard as one of its subsidiary alongside LUNAS Shiprepair Sdn Bhd and LUNAS Yachts Sdn Bhd. With this expansion, LUNAS reinforces its commitment to providing comprehensive solutions in shipbuilding, maintenance, repair, and overhaul (MRO) services.
As indicated by its name, LUNAS Langkawi Shipyard, situated at a strategic location between the Malacca Straits and the Andaman Sea, offers complete services from the design stage to the building, interior decorating, and testing of newly built vessels. It specializes in the new build, ship conversion, and repair of superyachts, white boats, luxury vessels, ferries, Fast Intercept Craft (FIC), including commercial and government agency boats. Covering an area of 19 acres, the shipyard boasts a highly skilled workforce proficient in Painting & Blasting, Mast Repair, Fabrication, Engineering, Yard Services, and Fitout (including Fiberglass, Composite, Teak Decking, Carpentry, Upholstery, Interior Finishing, Electrical and Electronic Systems, Navigation and Automation, as well as Motor/Alternator Servicing and Electrical Cabling).
The integration of LUNAS Langkawi Shipyard into the family amplifies the company’s capabilities and augments its capacity to deliver high-quality services to its clients. This move reflects LUNAS’s dedication to excellence, driven by tangible results and focused on creating value for its clients within the shipbuilding and MRO segments in the region. The renaming is a significant milestone in our ongoing expansion, enhancing our ability to offer comprehensive solutions and further solidifying our commitment to be a contributor to nation building and committed to delivering exceptional services to our clients.
Under LUNAS umbrella, the group remains dedicated to fostering innovation, excellence, and sustainability in every aspect of its operations. The company looks forward to leveraging the collective expertise of its subsidiaries to continue providing comprehensive solutions that meet the evolving needs of the maritime and defence industry.
One has to wonder now whether Lunas will also take over other companies under BHIC involved in the defence business, namely BHIC Submarine Engineering Services Sdn Bhd -the one doing the submarine refit and maintenance -; BHIC AeroServices Sdn Bhd (maintenance of government helicopters);
BHIC Defence Techservices Sdn Bhd (MRO of naval guns and integration of combat systems on RMN ships) and BHIC Bofors Asia Sdn Bhd (maintenance services for Bofors guns on RMN ships). Or simply the loss making ones?
— Malaysian Defence
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Before assuming LUNAS will take over other BHIC businesses like aerospace, please have a look at their org chart
https://www.bhic.com.my/images/corporate-structure.jpg
There is actually no taking over of anything as assumed.
Langkawi Shipyard is from the start a wholly owned subsidiary of BNS, as is Boustead Yachts Sdn Bhd and BN Shiprepair Sdn Bhd. Which is why they are/will be going to be renamed as LUNAS.
Understandably it will get more confusing moving on. As you can see, Boustead DCNS and BYO Marine will still be owned by BHIC Defence Technologies Sdn Bhd, which is still wholly owned by BHIC.