The Annual General Meeting of Boustead Heavy Industries Corporation Berhad took place on 12 June 2025 at the Mutiara Ballroom in Royale Chulan Damansara, Petaling Jaya. Shareholders gathered to review the company’s recent performance and vote on six ordinary resolutions—all of which passed successfully; two proposed items were withdrawn. As a token of appreciation, attendees received RM 50 petrol vouchers redeemable at BHP stations.
BHIC is a leading defence and heavy engineering company based in Malaysia. The company’s core activities include shipbuilding, maintenance, repair, and overhaul (MRO) for naval and commercial vessels, as well as aerospace services. Recently, BHIC reported a net loss of RM5.72 million in the third quarter of 2023, mainly due to higher finance and operating costs, despite a slight increase in revenue from its defence segment. The company remains committed to fulfilling its contracts and improving its financial performance.
The company’s main services cover a wide range of defence and engineering needs. These include Boustead Penang Shipyard, BHIC Marines Carrier, BHIC Shipbuilding & Engineering, BHIC Navaltech, and BHIC Marine Transport. BHIC’s portfolio features shipbuilding, naval and ground electronic systems maintenance, weapon system upgrades, heavy engineering for oil and gas, as well as aerospace MRO and training services. Notably, BHIC is involved in the construction of the Maharaja Lela-class frigates for the Royal Malaysian Navy and operates Malaysia’s largest civil helicopter operator, MHS Aviation
BHIC faces competition from other regional and international players in the defence and heavy engineering sector. Some of its main competitors include Malaysia Marine and Heavy Engineering Holdings Berhad (MMHE), Destini Berhad, and international firms like Singapore Technologies Engineering and Hyundai Heavy Industries.
