Boustead Heavy Industries Corp Bhd (BHIC) announced that its subsidiary Boustead DCNS Naval Corp Sdn Bhd (BDNC) has received an additional letter of acceptance (LOA) for the extension of its submarine in-service support (ISS) contract, with a revised and final negotiation price.
The company said in its filing on Thursday that the LOA is in relation to BDNC providing ISS for two units of Prime Minister’s class submarines for the Royal Malaysian Navy (RMN) for 193 million euros (RM532mil) as announced in September 2014.
This is also with a further LOA announced on March 31, 2015 for an additional ceiling contract value of RM532.2mil to extend the ISS contract up to May 31, 2017.
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The company said in its filing on Thursday that the LOA is in relation to BDNC providing ISS for two units of Prime Minister’s class submarines for the Royal Malaysian Navy (RMN) for 193 million euros (RM532mil) as announced in September 2014.
This is also with a further LOA announced on March 31, 2015 for an additional ceiling contract value of RM532.2mil to extend the ISS contract up to May 31, 2017.
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