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07:59 AM, March 22, 2017
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Boustead bags RM1.17b littoral mission ship deal

Malaysia's Boustead Holdings Bhd’s (BHB) has received a letter of acceptance (LoA) from Malaysian defense ministry for a contract to supply four units of littoral mission ships for RM1.17 billion (US$264.1 million).

The contract, which is collaboration between Malaysia and China, was awarded to the subsidiary Boustead Naval Shipyard Sdn Bhd (BNS) under direct negotiation, for collaboration with a partner shipyard in China. The contract is to be implemented over four years effective from the date of signing of the LoA by BNS, The Sun Daily reported Tuesday.

The littoral mission ships will be designed by the partner shipyard and the first two vessels will be built and delivered in China in 2019 and 2020, while the remaining two vessels will be built and delivered in Malaysia in 2021.

Last year, BNS received a non-binding letter of intent dated Oct 26, 2016 from the Ministry of Defence Malaysia for the supply of four littoral mission ships for the Malaysian Navy.

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