Boustead Heavy Industries to sell 20.8pc stake in Lumut Naval Shipyard for RM334.73m

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KUALA LUMPUR, April 3 — Boustead Heavy Industries Corporation Bhd’s (BHIC) indirect wholly owned subsidiary Perstim Industries Sdn Bhd (PISB) has proposed to dispose of...

How do Malaysia’s MPs lose their seats and party memberships? Here’s what the Federal Constitution and party constitutions sayIn a Bursa Malaysia filing today, BHIC said that the proposed disposal is designed to support the government’s decision to ensure the completion of the Littoral Combat Ship project.

“On May 29, 2023, BHIC announced that its board had acknowledged receiving a letter from the Minister of Finance Incorporated stating its intention to acquire, through OSB , 20.8 per cent of BHIC’s total equity interest in Lunas, which is held via PISB.

 

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