by TMR / pic by AFP
BOUSTEAD Holdings Bhd’s unit, Boustead Naval Shipyard Sdn Bhd (BNS), has signed a supplementary contract with the Ministry of Defence (Mindef) to remobilise the RM9 billion littoral combat ship (LCS) project.
The supplementary contract which was signed on May 31, among others, is to resume payment to creditors (original equipment manufacturers, vendors and financial institutions).
Apart from the activities to be undertaken by BNS towards remobilising the project, there are no significant differences between the substance of the contract and the supplementary contract.
Prior to this, BNS has signed the RM9 billion contract with Mindef to deliver six units of second-generation patrol vessels with LCS capability for the Royal Malaysian Navy.