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OTHERS BOUSTEAD HEAVY INDUSTRIES CORPORATION BERHAD (BHIC OR THE COMPANY) RECEIPT OF SUPPLEMENTAL LETTER OF AWARD FOR THE IN-SERVICE SUPPORT CONTRACT FOR THE ROYAL MALAYSIAN AIR FORCE EC725 HELICOPTERS BY BHIC AEROSERVICES SDN BHD

BOUSTEAD HEAVY INDUSTRIES CORPORATION BHD

Type Announcement
Subject OTHERS
Description
BOUSTEAD HEAVY INDUSTRIES CORPORATION BERHAD (BHIC OR THE COMPANY)  RECEIPT OF SUPPLEMENTAL LETTER OF AWARD FOR THE IN-SERVICE SUPPORT CONTRACT FOR THE ROYAL MALAYSIAN AIR FORCE EC725 HELICOPTERS BY BHIC AEROSERVICES SDN BHD

We refer to the announcements made on 21 March 2014, 21 July 2017 and 1 September 2020 on the receipt of a Letter of Award (“LOA”) by BHIC AeroServices Sdn Bhd (BHICAS) from the Ministry of Defence Malaysia (MOD) in relation to the provision of maintenance and supply of spares for the Royal Malaysian Air Force EC725 Helicopters via In-Service Support (“the ISS Contract”).

 

BHICAS is a joint venture between BHIC Defence Technologies Sdn Bhd (51%), a wholly owned subsidiary of the Company, Prestige Pillar Sdn Bhd (30%) and Airbus Helicopters Malaysia Sdn Bhd (19%).

 

The Company wishes to announce that BHICAS has accepted the Supplemental Letter of Award dated 4 July 2023 from MOD for an additional ceiling contract of RM115.3 million and extension of contract period from 1 April 2023 until 31 March 2024. The new total ceiling contract value is RM706.5 million only.

 

Apart from the revision of the Contract value, there are no significant differences between the substance of the Contract and the Supplemental LOA.

 

The Supplemental LOA will have no impact to the earnings of BHIC Group for the financial year ending 31 December 2023 and the financial year ending 31 December 2024.

 

None of the directors or substantial shareholders of the Company, or persons connected with them have any interest, direct or indirect, in the Supplemental LOA.

 

This announcement is dated 14 July 2023.






Announcement Info

Company Name BOUSTEAD HEAVY INDUSTRIES CORPORATION BHD
Stock Name BHIC
Date Announced 14 Jul 2023
Category General Announcement for PLC
Reference Number GA1-13072023-00045



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