BOUSTEAD GROUP APPOINTED SOLE DISTRIBUTOR FOR RANGE OF MILITARY VEHICLES
SUBANG JAYA, Selangor, Tuesday, April 25, 2006 - Boustead Emastulin Sdn Bhd (Boustead Emastulin) today signed a Letter of Intent (LOI) with BMC Sanayi ve Ticaret A.S. (BMC) to enter into negotiations to be the sole and exclusive distributor of BMC military vehicles in Malaysia.
Subject to further discussions and agreement subsequent to the LOI, Boustead Emastulin, an established motor vehicle distribution company in Malaysia and a subsidiary of home-grown conglomerate, Boustead Holdings Berhad, will also be responsible for the marketing of BMC's military vehicles in this country.
The LOI was signed between En. Rahim Mat Som, Executive Director of Boustead Emastulin, and Mr. M. Nadi Postoglu, Head of Military Vehicles, BMC, at the 10th Defense Services Asia Exhibition and Conference here.
En. Rahim Mat Som, said, "Since 1996, Boustead Emastulin has been appointed by BMC as the sole and exclusive distributor in Malaysia for BMC commercial trucks and buses. Today's signing marks a significant step forward in our long and mutually beneficial relationship with this globally recognized corporation."
Turkey-based BMC, one of the leading commercial vehicles manufacturers in the world, was established in 1964 in Izmir, Turkey. Utilizing its advanced technology and vast experience, BMC is also a leading manufacturer of military vehicles for the defense industry primarily in meeting the demands of the Turkish Armed Forces along with armies around the world.
The quality of BMC defense industry products are certified with ISO 9001 Quality System and AQAP-2110 Quality Assurance Requirements for Design, Development and Production for the North Atlantic Treaty Organization (NATO) certificates.
BMC has also gained the title of Company Manufacturing in NATO Standards; and is a registered company of NAMSA (NATO Maintenance and Supply Agency) Source Mailing List, the list of the companies allowed for sales to NATO countries.
"Boustead Emanstulin aims to build on our over 25-year experience in the motor industry to provide our nation's defense sector with only the very best in products and top-notch services," En. Rahim concluded.
Boustead Emastulin specializes in the distribution of motor vehicles to the country's public and private sectors. In addition to BMC, the company is also an authorised and approved dealer for Proton and Nissan private and commercial vehicles.
Since its inception as a modest trading entity for more than 178 years, the Boustead Group has grown by leaps and bounds to comprise more than 80 subsidiary and associate companies, and has substantial interests in various sectors of the Malaysian economy. The Group's operations are focused in five key areas; plantation, finance & investment, property, manufacturing and services. The Group's combined paid-up capital is currently RM296 million, while the Group's shareholders' funds as at December 31, 2005 stood at RM1.7 billion.