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KUALA LUMPUR (June 2): Based on corporate announcements and news flow today, companies in focus tomorrow (June 3) may include: Axiata Group Bhd, RHB Bank Bhd, Serba Dinamik Holdings Bhd, Hibiscus Petroleum Bhd, Techfast Holdings Bhd, Wah Seong Corp Bhd, Datasonic Group Bhd, Sime Darby Plantation Bhd, Boustead Holdings Bhd and Computer Forms (Malaysia) Bhd. Axiata Group Bhd's subsidiary, Boost Holdings Sdn Bhd, and RHB Banking Group have signed a.
Boustead to reveal LCS revival plans upon official confirmation
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Boustead Holdings Bhd (BHB) said it will reveal its plan on reviving the littoral combat ships (LCS) project once it receives the official confirmation on the government’s approval as announced recently.
In a filing with Bursa Malaysia today, BHB said it would make the necessary announcements in a timely manner to Bursa Malaysia should there be any material information.
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KUALA LUMPUR (Bernama): The government has agreed that the Boustead Group will continue with the Littoral Combat Ship (LCS) project that has been delayed since 2019 with conditions to be complied with by the company, says Senior Minister Datuk Seri Ismail Sabri Yaakob.
The Defence Minister said this was decided at the Cabinet meeting on Wednesday (May 5).
He said the continuation of the construction project would protect 1,600 local workers from losing their jobs and more than 400 vendors comprising Bumiputera SMEs. If the construction of this LCS is not continued, it will have a negative impact on the workers and the Bumiputera vendors involved.
for RM233.4mil cash.
Boustead told Bursa Malaysia today that the estimated gain from the disposal of the 6.6 acres of land was about RM54.1mil. The proposed disposal also allows Boustead to strengthen its liquidity and cash flow position by raising total net cash proceeds of approximately RM213.8mil (net of estimated expenses), which will be utilised for repayment of bank borrowings and working capital, it said.
Meanwhile, in a separate announcement, Boustead said it has entered into a memorandum of understanding (MoU) with one of the largest commercial algae plantation owner and cultivator in the world - Next Generation Oil Sdn Bhd.