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Boustead Holdings Bhd, also a Government linked company, took up 37% of stake and became the single largest shareholder of Penang Shipbuilding and Construction Industries (PSCI). As a division of PSCI, PSC-ND was renamed Boustead Naval Shipyard Sdn Bhd and put under Boustead's defense company, Boustead Heavy Industries Corporation.
Boustead Holdings Berhad (BHB) (MYX: 2771) is a Malaysian corporation with over 16,000 employees across more than 90 listed and non-listed companies in Malaysia, Indonesia and the United Kingdom. It is an affiliate of the Malaysian military. BHB was founded in 1828 as Boustead & Co in Singapore by Edward Boustead, an English businessman. [1]
In 2024, BNS was fully taken over by the Government through the Ministry of Finance's company Ocean Sunshine Sdn Bhd and rebranded as Lumut Naval Shipyard (LUNAS). [5] At the same year, LUNAS also has taken over Boustead Langkawi Shipyard from BHIC and renamed it as LUNAS Langkawi. [6]
PSC - Naval Dockyard Sdn Bhd was made the major contractor for the building and delivery of the New Generation Patrol Vessels (NGPV) for the Royal Malaysian Navy (RMN). An international invitation for bids was invited, from Germany, the United States, Australian and Britain amongst others submitting their bids.
Boustead Holdings: Subsidiaries: Pharmaniaga Logistics Sdn Bhd; Pharmaniaga Marketing Sdn Bhd; Pharmaniaga Research Centre Sdn Bhd; Pristine Pharma Sdn Bhd (ceased operation) Paradigm Industry Sdn Bhd (ceased operation) Pharmaniaga Manufacturing Bhd; Idaman Pharma Manufacturing Sdn Bhd (Sungai Petani) Idaman Pharma Manufacturing Sdn Bhd (Seri ...
However, under the intervention of the Malaysian Government, Boustead Heavy Industries Corporation took over the PSC-ND, thus regaining momentum for the programme. After a long wait of 18 months, the first two hulls, KD Kedah commissioned in June 2006 and KD Pahang commissioned in August 2006.
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