PETALING JAYA: Boustead Heavy Industries Corp Bhd’s (BHIC) joint venture company BHIC Aeroservices Sdn Bhd (BHICAS) has received a one-year extension from the Malaysian Home Ministry for the maintenance and support services for three helicopters.
BHIC said in a filing with the stock exchange that the contract is for three Dauphin AS365N3 helicopters attached with the Malaysian Maritime Enforcement Agency.
“The existing contract was for a period of two years and nine months effective October 1, 2016 to June 30, 2019 at a contract value of RM62.58 million.”
“Apart from the extension of the contract period, there are no significant differences between the substance of the contract and the extended letter of acceptance.”
BHICAS is a joint venture between BHIC Defence Technologies Sdn Bhd (51%), Prestige Pillar Sdn Bhd (30%) and Airbus Helicopters Malaysia Sdn Bhd (19%).
The extension is expected to contribute positively to BHIC’s earnings for the financial year ending December 31, 2019 and 2020.
Source: The Sun Daily