KUALA LUMPUR, July 17, 2020 – As part of its commitment to strengthen prospects and unlock value, Boustead Holdings Berhad (Boustead) today unveiled its Transformation Plan to drive the Group forward for the next three years.
Premised upon the three pillars of Evolve, Efficiency and Excellence, this will set a course for the transformation of the Group into a high-performing and sustainable organisation. Termed EDGE 20, the plan comprises 20 transformation initiatives to achieve the Group’s aspirations, focused on funding, structural, operational and corporate governance areas.
Dato’ Seri Mohamed Khaled bin Nordin, Chairman of Boustead, said, “The first phase of the Transformation Plan which we have already embarked on is aimed at restructuring Boustead and its subsidiaries in order to optimise value. This will enable us to remain resilient in the face of challenges ahead.”
“Thus far, we have already seen progress in enhancing Board governance and expertise, with a refreshed Board at the helm. We have also established a Group Transformation Office to drive the transformation efforts across the Group, as well as to provide strategic inputs for our business units.”
“With these plans in place to strengthen our fundamentals and a definitive blueprint to propel the Group over the next three years, we are confident that we will be able to weather through this challenging time and emerge as a stronger and more resilient organisation. We are dedicated to upholding the trust of our shareholders and this is part of our long-term commitment to create greater value. This will enable us to provide consistent and more sustainable returns to our shareholders, particularly our majority shareholder Lembaga Tabung Angkatan Tentera, which will subsequently positively impact the retired members of the Armed Forces who benefit from our dividends,” concluded Dato’ Seri Mohamed Khaled.
About Boustead Holdings Berhad
Boustead Holdings Berhad (‘Boustead’), one of Malaysia’s oldest conglomerates, is Lembaga Tabung Angkatan Tentera (‘LTAT’)’s investment arm. The diversified Group comprises more than 90 subsidiaries, associate companies and joint ventures, and has substantial interests in various sectors of the Malaysian economy.
Its operations are focused in five key areas namely plantation, heavy industries, property & industrial, trading, finance & investment, and pharmaceutical.
Since its inception as a modest trading entity more than 190 years ago, the Boustead Group has grown by leaps and bounds. As at 31 March 2020, Boustead Holdings Berhad’s paid-up capital was RM2.7 billion while its shareholders’ funds stood at RM3.6 billion. Market capitalisation is currently in the region of RM1.3 billion. For more information on Boustead, log on to
Forward looking statements
This release may contain certain forward-looking statements with respect to the financial conditions, results of operations and business of the Group and certain plans and objectives of Boustead Holdings Berhad with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.