BHIC JV gets extension

PETALING JAYA: Bousted Heavy Industries Corp Bhd’s (BHIC) joint venture has secured a one-year extension from the government to maintain and provide logistics support for three helicopters.

It said BHIC Aeroservices Sdn Bhd had received a letter for the extension of the contract from the Home Ministry to provide the services for the Malaysian Maritime Enforcement Agency’s three Dauphin AS365N3 helicopters.

BHIC Defence Technologies Sdn Bhd holds a 51% stake in BHIC Aeroservices, Prestige Pillar Sdn Bhd (30%) and Airbus Helicopters Malaysia Sdn Bhd (19%).

“The contract is now for a period from July 1,2016 to June 30,2021 with a new total ceiling contract value of Rm70.74mil,” it said in a filing with Bursa Malaysia.

BHIC said the extension would contribute positively to its earnings for the financial year ending Dec 31, 2020 and 2021.