KD Tunku Abdul Rahman, a Scorpene-class submarine. (photo : The Star)
KUALA LUMPUR (Bernama) -- Boustead DCNS Naval Corp Sdn Bhd has received a submarine refit contract with a total value of EUR169.86 million and RM432.4 million from the government.
The 18-month contract is for the provision of refit services for two Malaysian Royal Navy's submarines effective Nov 1, 2015, Boustead Heavy Industries Corporation Bhd (BHIC) said in a statement today.
BHIC said a Letter of Acceptance (LOA) was awarded to its subsidiary, Boustead DCNS Naval Corp dated Nov 12.
The LOA will have a material effect on the earnings of BHIC Group for the financial year ending Dec 31, 2015 and will contribute positively to future earnings.