Boustead Heavy Industries Corp Bhd (BHIC) has extended, for the fourth time, the conditional period for the RM1 billion sale of a 20.77% stake in Boustead Naval Shipyard Sdn Bhd (BNS) to the Ministry of Finance, Inc.
The new deadline for the deal is now January 31, 2024, as parties need more time to meet the conditions precedent.
The sale is part of the government's plan to take full control of the RM9.13 billion littoral combat ship project, which BNS failed to deliver on time.
BHIC's shares traded 7.29% higher at 51.5 sen, with a market capitalisation of RM128 million.