BOUSTEAD Heavy Industries Corporation Bhd (BHIC) said that its joint venture, BHIC AeroServices Sdn Bhd (BHICAS), has accepted a letter of award from the Malaysian Ministry of Defence.

The RM378 million contract is for a five-year in-service support and performance-based contract for the Royal Malaysian Air Force’s EC725 helicopters.

The contract is expected to positively impact BHIC’s earnings from 2024 to 2029.

No directors or substantial shareholders of BHIC have any direct or indirect interest in the contract.

BHIC was unchanged today at 48 sen with a market capitalisation of RM271 million. — TMR