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: All is well. Senior Defence Minister DS Hishammuddin Hussein announced yesterday all is well with the LCS re-mobilisation programme. From Bernama: KUALA LUMPUR, Oct 2 — The six-month mobilisation phase of the Royal Malaysian Navy’s (RMN) Littoral Combat Ship (LCS) project which began in June has gone smoothly […]
SHAH ALAM: The Armed Forces Provident Fund (LTAT) has signed an MOU with UAE-state owned arms conglomerate, the Edge Group, for possible collaboration in defence capabilities and solutions. From Bernama: KUALA LUMPUR: The armed forces pension fund (LTAT) today signed a memorandum of understanding (MoU) with the EDGE Group, a […]
SHAH ALAM: Abandon ship, scrap the LCS Part III. In the second part of these series, Malaysian Defence wrote that one of the reasons to scrap the project was the fact that Boustead Naval Shipyard (BNS) might have to take legal action against five companies involved in it. This was […]
SHAH ALAM: He said, she said. The Defence Ministry brought the media to visit the Boustead Naval Shipyard (BNS) in Lumut on August 13, in an apparent damage control attempt following the publication of the Public Accounts Committe (PAC) report on the LCS project. The media was given a guided […]
SHAH ALAM: Any plan B for the RMN? So far we have been told that the LCS project revival will be a successful with two ships to be delivered to the Royal Malaysian Navy by 2025. This was reported by the Public Accounts Committe report on the LCS. And the […]
SHAH ALAM: Only first two LCS. Only the first two LCS will be completed by 2025 as part of the revival of the project, it was revealed today. Once the successful sea acceptance trials (and likely commissioning) of the first two, that the government will make decision to complete the […]
SHAH ALAM: The CEO of LTAT (the Armed Forces Provident Fund) Datuk Ahmad Nazim Abdul Rahman in an interview with the Edge business daily has brushed aside the criticism over the LCS project even saying that the ships cost were comparable with the ones bought by Egypt and UAE. The […]
SHAH ALAM: After waiting for some 29 months and three governments, the LCS project has finally been approved for resumption of work, Defence Minister DS Hishammuddin Hussein said yesterday. In a release issued on April 21, Hishammuddin said the Cabinet at its meeting that day has approved the resumption of […]
SHAH ALAM: LTAT Mulls Boustead Privatisation. The Armed Forces Fund Board (LTAT) the controlling shareholder of Boustead Holdings Bhd (BHB), is mulling plans to delist the publicly listed company. However there is no indication whether it will also do so for Boustead’s subsidiary company, Boustead Heavy Industries Corporation Bhd (BHIC) […]
Malaysian Defence
