Boustead Hopes to Secure Contracts

Boustead Heavy Industries Corporation Bhd hopes to secure shipbuilding contracts. The company, formerly known as PSC Industries Bhd and currently undergoing restructuring, expects to know the results by year-end, he told reporters after the company's annual general meeting. Part of the negotiations was for the construction of leisure vessels which are currently handled by its shipyard in Langkawi. The company also planned to tap the oil and gas sector, driven by the growing global demand for services related to oil vessels. The exercise, which also included rebranding, was likely to see the company focusing on heavy engineering and electronics. The restructuring exercise is expected to be completed by August this year. Source: Bernama