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Malaysia’s Boustead posts defence sales decline

23 May 2019
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Malaysia’s Boustead Heavy Industries Corporation (BHIC) posted declines in revenues and earnings during the first quarter of 2019, the company said on 23 May.

BHIC said in a filing to the Bursa Malaysia stock exchange that its revenues in the quarter ended 31 March were MYR36.3 million (USD8.7 million), a year-on-year decline of 9%, and that it recorded pre-tax losses of MYR4 million compared with a profit of MYR5.4 million a year earlier.

BHIC is mainly involved in naval shipbuilding and naval maintenance, repair and overhaul (MRO) but also has capabilities in defence electronics, military aerospace, naval training, and weapons MRO.

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