Boustead targets RM30 billion revenue increase in five years with new strategy

Boustead Holdings Berhad targets a significant increase in group revenue, aiming for RM30 billion within the next five years. This ambitious goal is driven by a new strategic direction that prioritizes the defense industry, property development, and commercial services.

Group Managing Director Datuk Dr. Ahmad Sabirin Arshad expressed confidence in achieving this target, citing the government's mandate for the company to lead several strategic national projects. "Today we have recorded group revenue of RM12 billion, and we hope to increase that revenue to RM30 billion in the next five years," he told reporters.

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Today we have recorded group revenue of RM12 billion, and we hope to increase that revenue to RM30 billion in the next five years.

Boustead is undergoing a restructuring process, shifting its focus from its origins as an agricultural company to these three key areas. This aligns with the National Defense Industry Policy launched earlier this year. The company is committed to incorporating at least 30% local content in defense industry technology product development by 2030 and aims to create approximately 400 local vendors within the industry's ecosystem.

"Boustead is now responsible for implementing four National Defense Projects: satellite development, rolling chassis for armored vehicles, small arms production, and the Combat Management System," Ahmad Sabirin stated. In the property sector, Boustead, along with the Armed Forces Fund Board (LTAT), is mandated to develop the Batu Cantonment project, which involves relocating nine military camps to new locations before the Batu Cantonment area is redeveloped into a new commercial hub in the heart of the capital.

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Boustead is now responsible for implementing four National Defense Projects: satellite development, rolling chassis for armored vehicles, small arms production, and the Combat Management System.