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Malaysia : BHICs JV firm secures RM71m radar contract.

According to Boustead Heavy Industries Corp Bhd (BHIC), its joint-venture (JV) company Contraves Advanced Devices Sdn Bhd (CAD) has secured RM70.74 million contract award from associate company Boustead Naval Shipyard Sdn Bhd (BNS).

As per the contract, CAD will have to supply Radar Electronic Support Measure Systems and related services for the Royal Malaysian Navy for the Littoral Combat Ships (LCS) Programme.

BHIC MD and CAD director Tan Sri Ahmad Ramli Mohd Nor said, We are pleased to have received this new contract. It is a further example of the commitment by BHIC group in ensuring the success of the LCS contract.

BHIC has revealed that the awarded works includes a recurrent related party transaction for which a shareholder mandate was obtained at BHIC s AGM on April 3, 2014.

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Publication:Mena Report
Date:Sep 19, 2014
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