04 Oktober 2012

Contraves Wins Combat Vessel Job

04 Oktober 2012

SETIS Combat Management System (photo : DCNS)

Boustead Holdings Bhd's unit, Boustead Naval Shipyard Sdn Bhd (BNS), has issued a letter of award (LOA) to Contraves Advanced Devices Sdn Bhd (CAD), in relation to the RM203.79 million contract for Second Generation Patrol Vessels/Littoral Combat Ships.

CAD is a subsidiary of Boustead Heavy Industries Corp (BHIC). The LOA covers an implementation period of up to 10 years.

"The commencement date of the awarded works is Oct 2, 2012," said Boustead Holdings in a filing to Bursa Malaysia today.

The company added that the LOA awards to CAD, a contract to procure, engineer, and integrate into the DCNS SETIS Combat Management System, a Combined Integrated Communication System and Communications ESM system.

The awarded works are expected to have a positive impact on the earnings of the company for the financial year ending Dec. 31, 2012 and subsequent financial years, as the tenure of the awarded works is long term in nature.

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