Monday, 06 Jul 2020
BUSINESS
01/07/2020 01:43 PM

KUALA LUMPUR, July 1 -- Boustead Heavy Industries Corporation Bhd's (BHIC) subsidiary, BHIC AeroServices Sdn Bhd (BHICAS) has agreed to extend the contract to provide integrated maintenance and logistics support services to the Malaysian Maritime Enforcement Agency (MMEA) for another year.

In a filing with Bursa Malaysia today, the 51 per cent-owned subsidiary was to provide the services for three of MMEA’s Dauphin AS365N3 helicopters.

BHIC said the contract is now for a period from July 1, 2016 to June 30, 2021 with a new total ceiling contract value of RM70.74 million.

BHICAS has accepted a letter from the Home Affairs Ministry to extend the contract for one year, effective July 1.

“Apart from the extension of the contract period and revision of contract value, there are no significant differences between the substance of the contract and the extended letter of acceptance (LOA),” BHIC said.

It said the LOA will contribute positively to the earnings of BHIC Group for the financial years ending Dec 31, 2020 and Dec 31, 2021.

-- BERNAMA

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