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BHIC's share price jumps 22pct on RM1.1b Ministry of Defence job

KUALA LUMPUR: Boustead Heavy Industries Corp Bhd's (BHIC) share price jumped 22 per cent to a six-month high of 59 sen in morning trade after it bagged a RM1.1 bilion Ministry of Defence job.

BHIC will provide in-service support for Royal Malaysian Navy Prime Minister Class submarines.

Its last 52-week high was 67 sen a share.

The group posted a net loss of RM6.7 milion for the first quarter ended Mar 31, 2024 on revenue of RM19.1 million.

The stock traded 17 per cent higher at 56 sen a share, giving it a market capitalisation of RM318.8 million.

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