Latest news with #Boustead
New Straits Times
2 days ago
- Business
- New Straits Times
Three senior board members exit Boustead Heavy Industries in governance shake-up
KUALA LUMPUR: Boustead Heavy Industries Corp Bhd (BHIC) has announced the resignation of three senior board members, marking a fresh round of leadership changes amid broader restructuring at the group level. According to filings with Bursa Malaysia, the departures involve Dr Salihin Abang, Izaddeen Daud and Saadatul Nafisah Bashir Ahmad, all of whom held multiple roles on the board. Dr Salihin stepped down as an independent non-executive director and relinquished his positions on the audit and risk committees. Saadatul vacated her seat on the board as well as the audit and nomination and remuneration committees. Izaddeen, a non-independent non-executive director, also resigned from the board. No reasons were given for the resignations and replacements have yet to be announced. The exits come as BHIC's parent company, Boustead Holdings Bhd, and its major shareholder, the Armed Forces Fund Board (LTAT), move forward with a broad restructuring agenda. Izaddeen was appointed group chief executive officer (GCEO) of Boustead Holdings in November 2022. BHIC's latest annual report indicates that he still holds the position, although Boustead Holdings' official website currently does not list a GCEO among its leadership team. In February, the government launched a new reform blueprint dubbed Project Earth, aimed at improving operational efficiency and productivity across LTAT and its portfolio of companies, including Boustead and BHIC. Project Earth replaces the earlier Project Moonshot, which was suspended in 2023 amid concerns over LTAT's financial stability. The previous plan sought to pare down Boustead's RM3.4 billion debt and divest its stake in six key subsidiaries.
Business Times
6 days ago
- Business
- Business Times
Joint venture by Boustead Projects' unit clinches JTC tender to develop industrial facility on Tukang Innovation Drive site
[SINGAPORE] A joint venture of Boustead Projects' wholly owned subsidiary was awarded a tender by JTC Corporation on Friday (May 30) to develop an industrial facility on a land parcel under the Industrial Government Land Sales Programme. The subsidiary, BP-Innovue, is the real estate solutions division of mainboard-listed Boustead Singapore. The land parcel – known as Tukang Innovation Drive Plot A – spans 18,687 square metres, with a proposed allowable gross floor area of 46,717.5 sq m. Designated as a Business 2 zone, the site will be developed into a multi-user industrial facility with heavy vehicle parking. Strata subdivision is permitted for the development. This marks the first development project that has been secured since vertically integrated Pan-Asian logistics and industrial real estate platform UIB was formed in March, noted Boustead. UIB will be jointly providing development management services to deliver this project. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Launched by JTC in December 2024, the land parcel is the first site under the Industrial Government Land Sales Programme to be awarded with an additional three years of lease, under recent enhancements to the industrial land lease framework. The 33-year land lease tenure will allow businesses to utilise a full 30-year intended lease term. Boustead said the development of the site is not expected to have a material impact on the profitability, earnings per share and net tangible asset value per share of the group in the current financial year ended Mar 31, 2026. It added that none of the directors or controlling shareholders of the company has any interest, direct or indirect, in the tender and acceptance letter. Shares of Boustead closed at S$1.11, down S$0.03 or 2.6 per cent on Friday, before the announcement.
BBC News
01-05-2025
- BBC News
Outdoors-loving dad died after Helvellyn mountain fall
An outdoor-loving father died after a tragic fall from a mountain while on a festive break, an inquest has been told. Paul Thomas Boustead, 44, had climbed Helvellyn, in the Lake District, on 29 December but failed to return home and was reported missing, an inquest heard. Mountain rescue volunteer Luke Armitage found his body about 400ft (120m) from the top of the mountain the following had spotted Mr Boustead's dog near where his bike had been located the previous day. In a statement read out at the inquest, Mr Armitage said: "The dog helped me find him - the dog wouldn't leave his side."At Cockermouth's Coroners' Court, coroner Robert Cohen concluded the death was accidental. Drugs including cocaine, amphetamine and ecstasy were found in Mr Boustead's body during a post-mortem examination, but Mr Cohen said it would be "misleading" to treat his death as a statement, his wife Tracy said she was not aware of her husband taking drugs and she could not explain why those substances were found in his Cohen said: "He fell while in the mountains and sustained injuries inconsistent with life, those circumstances are the appropriate conclusion." 'Family orientated man' The inquest heard Mr Boustead had been staying at the Swan Inn in Grasmere, where he had booked a four-night Boustead had raised the alarm on 29 December when she could not make contact with her husband and a tracker on his phone showed him not having moved from a spot near the summit of rescue volunteers found a bike the same day but were forced to resume searches at first light the next morning.A statement from Mr Armitage described there being poor visibility and strong winds when he found Mr Boustead's body in a gully above Red Tarn, having suffered "major injuries".The inquest heard Mr Boustead was born in Blackpool and was living with his wife in the Preston area at the time of his had three sons aged between one and 19 and was said to be a family orientated Boustead was a self-employed HR consultant and had been working for the Open University at the time of his death, although he had previously worked for other universities and councils around the Boustead described him as ambitious and community said he was sporty and loved mountain biking, cricket and running with his black Labrador, which the family had had since added he loved going to the Lake District to spend time outdoors. Follow BBC Cumbria on X, Facebook, Nextdoor and Instagram.
